Katapult (NASDAQ:KPLT) Trading Up 0.3% – Still a Buy?

Katapult Holdings, Inc. (NASDAQ:KPLT)’s share price rose 0.3% during mid-day trading on Friday . The stock traded as high as $6.60 and last traded at $6.32. Approximately 9,960 shares traded hands during trading, a decline of 43% from the average daily volume of 17,589 shares. The stock had previously closed at $6.30.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Katapult from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $10.00.

Katapult Price Performance

The company has a market cap of $30.15 million, a price-to-earnings ratio of 5.50 and a beta of 1.50. The stock has a 50-day moving average price of $6.67 and a 200 day moving average price of $6.61.

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

Institutional Investors Weigh In On Katapult

A number of hedge funds have recently modified their holdings of KPLT. Iridian Asset Management LLC CT raised its position in shares of Katapult by 198.1% during the fourth quarter. Iridian Asset Management LLC CT now owns 920,000 shares of the company’s stock worth $5,943,000 after purchasing an additional 611,384 shares during the period. Cantor Fitzgerald L. P. acquired a new stake in shares of Katapult during the fourth quarter worth about $1,055,000. CIBC Private Wealth Group LLC raised its position in shares of Katapult by 131.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 135,513 shares of the company’s stock worth $875,000 after purchasing an additional 77,042 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Katapult during the third quarter worth about $699,000. Finally, OCO Capital Partners L.P. acquired a new stake in shares of Katapult during the fourth quarter worth about $323,000. Institutional investors and hedge funds own 26.81% of the company’s stock.

Katapult Company Profile

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.