Katapult (NASDAQ:KPLT) Shares Down 3.8% – Should You Sell?

Shares of Katapult Holdings, Inc. (NASDAQ:KPLT) were down 3.8% during mid-day trading on Wednesday . The stock traded as low as $7.21 and last traded at $7.34. Approximately 5,906 shares were traded during mid-day trading, a decline of 55% from the average session 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 report on Thursday, June 25th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $10.00.

Katapult Trading Down 3.8%

The stock’s 50-day moving average is $6.57 and its 200-day moving average is $6.67. The firm has a market capitalization of $35.01 million, a price-to-earnings ratio of 6.38 and a beta of 1.49.

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

Institutional Trading of Katapult

Several hedge funds and other institutional investors have recently made changes to their positions in KPLT. Vanguard Group Inc. grew its position in shares of 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. Two Sigma Investments LP acquired a new stake in shares of Katapult in the third quarter valued at about $273,000. Virtu Financial LLC bought a new position in shares of Katapult during the third quarter worth about $121,000. CIBC Bancorp USA Inc. bought a new position in shares of Katapult during the third quarter worth about $699,000. Finally, CIBC Private Wealth Group LLC raised its position 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 last quarter. 26.81% of the stock is currently owned by institutional investors.

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.