Katapult (NASDAQ:KPLT) Trading Down 3.8% – Time to Sell?

Katapult Holdings, Inc. (NASDAQ:KPLT) shares fell 3.8% on Wednesday . The company traded as low as $7.21 and last traded at $7.34. 5,906 shares were traded during trading, a decline of 55% from the average daily volume of 13,131 shares. The stock had previously closed at $7.63.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Katapult from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Katapult presently has a consensus rating of “Reduce” and an average target price of $10.00.

Katapult Stock Up 1.3%

The stock has a 50 day moving average of $6.57 and a 200 day moving average of $6.68. The company has a market capitalization of $34.34 million, a price-to-earnings ratio of 6.26 and a beta of 1.49.

Katapult (NASDAQ:KPLT) last released its earnings results on Thursday, May 7th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.11. The business had revenue of $79.02 million during the quarter, compared to the consensus estimate of $82.00 million. Katapult had a net margin of 2.48% and a negative return on equity of 16.24%.

Hedge Funds Weigh In On Katapult

Several hedge funds and other institutional investors have recently bought and sold shares of KPLT. Cobalt Capital Management Inc. bought a new stake in Katapult during the fourth quarter valued at $154,000. Bridgeway Capital Management LLC acquired a new position in shares of Katapult in the 4th quarter valued at about $81,000. Cantor Fitzgerald L. P. bought a new stake in shares of Katapult during the 4th quarter valued at about $1,055,000. Jump Financial LLC bought a new stake in shares of Katapult during the 4th quarter valued at about $70,000. Finally, OCO Capital Partners L.P. acquired a new stake in Katapult during the fourth quarter worth approximately $323,000. Institutional investors and hedge funds own 26.81% of the company’s stock.

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.