Short Interest in Katapult Holdings, Inc. (NASDAQ:KPLT) Grows By 340.6%

Katapult Holdings, Inc. (NASDAQ:KPLT) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 726,081 shares, a growth of 340.6% from the November 30th total of 164,779 shares. Based on an average daily volume of 1,854,660 shares, the days-to-cover ratio is currently 0.4 days. Approximately 18.4% of the company’s stock are short sold. Approximately 18.4% of the company’s stock are short sold. Based on an average daily volume of 1,854,660 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of Katapult

Several hedge funds and other institutional investors have recently modified their holdings of KPLT. Vanguard Group Inc. grew its stake in Katapult by 6.1% in the 3rd quarter. Vanguard Group Inc. now owns 131,054 shares of the company’s stock valued at $1,567,000 after buying an additional 7,586 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Katapult by 7.8% during the third quarter. CIBC Private Wealth Group LLC now owns 58,471 shares of the company’s stock worth $699,000 after acquiring an additional 4,249 shares during the period. CIBC Bancorp USA Inc. acquired a new position in shares of Katapult in the third quarter valued at approximately $699,000. Two Sigma Investments LP bought a new position in shares of Katapult during the third quarter worth approximately $273,000. Finally, Virtu Financial LLC acquired a new stake in Katapult during the 3rd quarter worth approximately $121,000. Institutional investors own 26.81% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Katapult in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $10.00.

Katapult Price Performance

Shares of KPLT opened at $6.85 on Friday. The company has a market cap of $31.78 million, a PE ratio of -1.16 and a beta of 1.76. The firm has a 50-day moving average of $7.92 and a 200-day moving average of $11.33. Katapult has a one year low of $5.50 and a one year high of $24.34.

Katapult (NASDAQ:KPLT) last posted its earnings results on Wednesday, November 12th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.72). The company had revenue of $74.04 million during the quarter, compared to analyst estimates of $74.55 million. Analysts expect that Katapult will post -3.09 earnings per share for the current year.

About Katapult

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.