Short Interest in Katapult Holdings, Inc. (NASDAQ:KPLT) Drops By 6.3%

Katapult Holdings, Inc. (NASDAQ:KPLT – Get Rating) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 2,680,000 shares, a drop of 6.3% from the February 13th total of 2,860,000 shares. Based on an average daily volume of 249,200 shares, the short-interest ratio is currently 10.8 days. Approximately 5.1% of the company’s shares are short sold.

Katapult Stock Performance

Shares of KPLT stock opened at $0.64 on Wednesday. The stock has a fifty day moving average of $0.98 and a 200 day moving average of $0.99. Katapult has a 52 week low of $0.55 and a 52 week high of $2.70. The firm has a market capitalization of $63.24 million, a price-to-earnings ratio of -1.65 and a beta of 1.19. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 11.32.

Insider Transactions at Katapult

In related news, CEO Orlando Zayas sold 61,081 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $0.87, for a total value of $53,140.47. Following the completion of the sale, the chief executive officer now owns 2,935,505 shares of the company’s stock, valued at $2,553,889.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 48.90% of the company’s stock.

Hedge Funds Weigh In On Katapult

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Katapult by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 768,251 shares of the company’s stock valued at $734,000 after buying an additional 44,236 shares during the period. State Street Corp lifted its position in Katapult by 5.5% during the first quarter. State Street Corp now owns 186,975 shares of the company’s stock valued at $445,000 after buying an additional 9,775 shares during the period. Renaissance Technologies LLC lifted its position in Katapult by 8.5% during the fourth quarter. Renaissance Technologies LLC now owns 281,200 shares of the company’s stock valued at $269,000 after buying an additional 22,100 shares during the period. Millennium Management LLC purchased a new position in Katapult during the second quarter valued at $59,000. Finally, Cresset Asset Management LLC purchased a new position in Katapult during the first quarter valued at $30,000. Hedge funds and other institutional investors own 20.01% of the company’s stock.

Katapult Company Profile

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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.