Katapult (NASDAQ:KPLT) Lowered to “Hold” at Loop Capital

Katapult (NASDAQ:KPLTGet Rating) was downgraded by investment analysts at Loop Capital from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Briefing.com reports. They currently have a $1.00 target price on the stock, down from their previous target price of $5.00. Loop Capital’s price target would indicate a potential downside of 30.07% from the company’s current price.

KPLT opened at $1.43 on Wednesday. The business’s fifty day moving average price is $2.02. The stock has a market cap of $139.93 million, a P/E ratio of 28.61 and a beta of 0.18. Katapult has a 52 week low of $1.12 and a 52 week high of $14.98. The company has a debt-to-equity ratio of 2.50, a current ratio of 10.20 and a quick ratio of 10.20.

Katapult (NASDAQ:KPLTGet Rating) last announced its quarterly earnings results on Tuesday, March 15th. The company reported ($0.04) earnings per share (EPS) for the quarter. Katapult had a net margin of 4.56% and a negative return on equity of 49.48%. The company had revenue of $73.30 million during the quarter. Equities analysts anticipate that Katapult will post -0.34 EPS for the current year.

Several large investors have recently made changes to their positions in KPLT. BlackRock Inc. purchased a new position in shares of Katapult in the 3rd quarter valued at $4,600,000. Fuller & Thaler Asset Management Inc. purchased a new position in Katapult during the 4th quarter worth $1,974,000. Geode Capital Management LLC grew its stake in Katapult by 810.8% during the 3rd quarter. Geode Capital Management LLC now owns 559,378 shares of the company’s stock worth $3,037,000 after buying an additional 497,963 shares during the last quarter. Millennium Management LLC grew its stake in Katapult by 2,656.7% during the 3rd quarter. Millennium Management LLC now owns 492,257 shares of the company’s stock worth $2,673,000 after buying an additional 474,400 shares during the last quarter. Finally, Formula Growth Ltd. grew its stake in Katapult by 83.4% during the 3rd quarter. Formula Growth Ltd. now owns 716,167 shares of the company’s stock worth $3,889,000 after buying an additional 325,576 shares during the last quarter. Institutional investors and hedge funds own 47.80% of the company’s stock.

Katapult Company Profile (Get Rating)

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 merchants.

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