Katapult Holdings, Inc. (NASDAQ:KPLT) Short Interest Update

Katapult Holdings, Inc. (NASDAQ:KPLT) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 254,556 shares, a growth of 69.5% from the August 31st total of 150,196 shares. Currently, 5.6% of the company’s shares are short sold. Based on an average daily trading volume, of 159,327 shares, the short-interest ratio is presently 1.6 days.

Katapult Price Performance

Shares of KPLT stock traded down $0.12 during trading on Wednesday, hitting $4.42. 48,818 shares of the stock traded hands, compared to its average volume of 61,030. The firm has a market capitalization of $22.00 million, a P/E ratio of 3.23 and a beta of 1.55. The firm’s fifty day moving average price is $6.99 and its 200-day moving average price is $6.88. Katapult has a 52-week low of $4.30 and a 52-week high of $16.07.

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

Hedge Funds Weigh In On Katapult

A hedge fund recently bought a new position in Katapult stock. Cobalt Capital Management Inc. acquired a new position in shares of Katapult Holdings, Inc. (NASDAQ:KPLT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 23,860 shares of the company’s stock, valued at approximately $154,000. Katapult comprises approximately 0.1% of Cobalt Capital Management Inc.’s investment portfolio, making the stock its 28th biggest position. Cobalt Capital Management Inc. owned 0.51% of Katapult at the end of the most recent reporting period. 26.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KPLT has been the subject of a number of recent research reports. Weiss Ratings downgraded Katapult from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Katapult to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Katapult currently has an average rating of “Sell”.

Katapult Company Profile

Katapult Holdings, Inc is a financial technology company that provides lease-to-own payment solutions for consumers who may have limited access to traditional credit. Through its digital platform, the company allows shoppers to obtain merchandise and pay for it over time through lease-purchase agreements.

Katapult’s services are integrated with participating retail and e-commerce merchants, enabling customers to apply for financing at the point of sale. The platform supports purchases in categories such as consumer electronics, appliances, furniture, mattresses, tires and other household goods, subject to merchant participation and customer eligibility.

Founded in 2016, Katapult operates primarily in the United States and focuses on serving non-prime consumers through technology-enabled underwriting, payment processing and account-management tools.