Katapult Holdings, Inc. (NASDAQ:KPLT) Sees Large Drop in Short Interest

Katapult Holdings, Inc. (NASDAQ:KPLT) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totaling 270,313 shares, a drop of 13.6% from the March 15th total of 312,844 shares. Based on an average daily volume of 15,660 shares, the days-to-cover ratio is currently 17.3 days. Approximately 6.2% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Katapult in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Katapult presently has a consensus rating of “Reduce” and an average price target of $10.00.

Institutional Trading of Katapult

Several institutional investors have recently made changes to their positions in KPLT. Aptus Capital Advisors LLC purchased a new stake in shares of Katapult during the fourth quarter worth about $65,000. Jump Financial LLC bought a new position in Katapult during the fourth quarter valued at approximately $70,000. Bridgeway Capital Management LLC bought a new position in Katapult during the fourth quarter valued at approximately $81,000. Virtu Financial LLC bought a new position in Katapult during the third quarter valued at approximately $121,000. Finally, State Street Corp boosted its stake in Katapult by 17.3% during the fourth quarter. State Street Corp now owns 20,979 shares of the company’s stock valued at $136,000 after buying an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors own 26.81% of the company’s stock.

Katapult Price Performance

Shares of NASDAQ:KPLT traded up $0.11 during trading on Friday, hitting $7.20. 7,439 shares of the company’s stock were exchanged, compared to its average volume of 13,660. Katapult has a 52-week low of $5.50 and a 52-week high of $24.34. The business’s 50-day simple moving average is $6.75 and its 200 day simple moving average is $7.74. The company has a market cap of $34.34 million, a price-to-earnings ratio of -48.00 and a beta of 1.63.

Katapult Company Profile

Katapult Holdings Inc is a New York–based fintech company that provides point-of-sale financing solutions designed to expand access to affordable consumer credit. The company’s platform enables retailers to offer lease-to-own and installment payment options to customers who may not qualify for traditional financing, using a data-driven credit decision engine and proprietary underwriting algorithms. Katapult’s digital approach streamlines the application process and automates account management, helping merchants boost conversion rates and average order values.

The company partners with a broad range of online and omnichannel retailers across categories such as furniture, electronics, outdoor equipment and consumer goods, integrating its financing options via APIs and plug-and-play modules.