Katapult (NASDAQ:KPLT) Coverage Initiated by Analysts at Stephens

Stephens assumed coverage on shares of Katapult (NASDAQ:KPLT) in a research report released on Wednesday morning, Marketbeat Ratings reports. The firm issued an equal weight rating and a $9.00 price objective on the stock.

A number of other brokerages have also weighed in on KPLT. Cantor Fitzgerald upgraded shares of Katapult to a “hold” rating in a report on Thursday, October 3rd. Loop Capital reduced their target price on Katapult from $20.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, August 15th.

Katapult Trading Up 2.4 %

Katapult stock opened at $6.63 on Wednesday. The stock has a fifty day moving average price of $9.28 and a 200 day moving average price of $13.92. Katapult has a 52 week low of $6.44 and a 52 week high of $23.54. The firm has a market capitalization of $27.62 million, a P/E ratio of -0.81 and a beta of 1.72.

Katapult (NASDAQ:KPLT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($2.05) EPS for the quarter. The firm had revenue of $60.31 million for the quarter. During the same quarter in the prior year, the company posted ($0.71) earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KPLT. Renaissance Technologies LLC increased its position in shares of Katapult by 18.6% in the second quarter. Renaissance Technologies LLC now owns 21,000 shares of the company’s stock worth $353,000 after acquiring an additional 3,300 shares in the last quarter. Geode Capital Management LLC boosted its position in Katapult by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 39,233 shares of the company’s stock worth $408,000 after purchasing an additional 2,825 shares during the period. Finally, Iridian Asset Management LLC CT boosted its position in Katapult by 27.3% during the 3rd quarter. Iridian Asset Management LLC CT now owns 400,000 shares of the company’s stock worth $4,156,000 after purchasing an additional 85,742 shares during the period. 26.81% of the stock is owned by institutional investors and hedge funds.

About Katapult

Katapult Holdings, Inc, an e-commerce focused financial technology company, provides e-commerce point-of-sale lease-purchase options for nonprime consumers in the United States. The company's technology platform provides nonprime consumers with a lease purchase option to enable them to obtain durable goods from its network of e-commerce retailers.