Katapult (NASDAQ:KPLT) Stock Jumps 3.4% – What’s Next?

Katapult Holdings, Inc. (NASDAQ:KPLT) shares shot up 3.4% during mid-day trading on Friday. The stock traded as high as $8.13 and last traded at $7.84. Approximately 250,286 shares were traded during trading, a decline of 29% from the average session volume of 354,458 shares. The stock had previously closed at $7.58.

Analyst Upgrades and Downgrades

KPLT has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Katapult to a “hold” rating in a research report on Saturday, September 26th. Weiss Ratings cut shares of Katapult from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Katapult Stock Up 3.4%

The firm has a market cap of $38.96 million, a PE ratio of 5.72 and a beta of 1.68. The firm has a 50-day moving average price of $6.54 and a two-hundred day moving average price of $6.69.

Katapult (NASDAQ:KPLT) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($1.41) EPS for the quarter, missing the consensus estimate of ($1.22) by ($0.19). Katapult had a negative return on equity of 26.41% and a net margin of 3.60%. The firm had revenue of $74.76 million for the quarter, compared to analysts’ expectations of $73.10 million.

Institutional Investors Weigh In On Katapult

A hedge fund recently raised its position in Katapult stock. Iridian Asset Management LLC CT raised its holdings in shares of Katapult Holdings, Inc. (NASDAQ:KPLT) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 919,498 shares of the company’s stock after buying an additional 46,642 shares during the quarter. Katapult comprises about 1.4% of Iridian Asset Management LLC CT’s portfolio, making the stock its 20th biggest holding. Iridian Asset Management LLC CT owned approximately 18.50% of Katapult worth $4,018,000 at the end of the most recent quarter. Institutional investors own 26.81% of the company’s stock.

About Katapult

Katapult Holdings, Inc is a financial technology company that provides lease-to-own payment solutions for consumers who may not qualify for traditional prime-credit financing. Operating under the Katapult brand, the company enables customers to obtain products through structured lease agreements rather than conventional installment loans or credit-card transactions.

Katapult’s platform is integrated with participating retailers and e-commerce merchants, allowing consumers to apply for financing during the checkout process.