Stock Traders Purchase High Volume of Katapult Put Options (NASDAQ:KPLT)

Katapult Holdings, Inc. (NASDAQ:KPLT) was the target of unusually large options trading activity on Wednesday. Investors bought 21,767 put options on the stock. This represents an increase of approximately 1,055% compared to the typical daily volume of 1,884 put options.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. purchased a new position in shares of Katapult in the second quarter worth $54,000. Tuttle Capital Management LLC acquired a new stake in Katapult during the third quarter valued at $55,000. Wolverine Asset Management LLC grew its position in Katapult by 227.3% during the third quarter. Wolverine Asset Management LLC now owns 10,585 shares of the company’s stock valued at $57,000 after buying an additional 7,351 shares during the period. Advisor Group Holdings Inc. grew its position in Katapult by 547.3% during the third quarter. Advisor Group Holdings Inc. now owns 11,315 shares of the company’s stock valued at $61,000 after buying an additional 9,567 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in Katapult during the second quarter valued at $87,000.

Shares of KPLT stock opened at $4.08 on Thursday. The company has a debt-to-equity ratio of 3.24, a quick ratio of 10.67 and a current ratio of 10.67. The stock has a 50-day moving average of $5.22. Katapult has a one year low of $3.10 and a one year high of $19.65.

Several analysts have recently issued reports on KPLT shares. Loop Capital decreased their target price on shares of Katapult from $12.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, August 12th. Cantor Fitzgerald began coverage on shares of Katapult in a report on Tuesday, October 5th. They set a “neutral” rating and a $6.00 price target on the stock.

Katapult Company Profile

Katapult Group, Inc, doing business as Zibby, develops and operates a lease-to-own monthly payment platform to help consumers acquire durable goods from retailers in the United States. It offers its customers a lease purchase transaction processing system with no long-term obligation and options for ownership.

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