5 Most Shorted Stocks Hedge Funds Are Buying

3. Katapult Holdings, Inc. (NASDAQ:KPLT)

Number of Hedge Fund Holders: 33 

Float Shorted: 7.70% 

Katapult Holdings, Inc. (NASDAQ:KPLT) has slumped in value by over 63% year-to-date, largely because of weak fundamentals. The company failed to impress analysts in the second quarter earnings, reporting a net loss of $8 million over the period compared to a net income of $5 million recorded between March and June last year. The company also removed explicit guidance for the fiscal year citing uncertainty in consumer spending behaviors. 

Cantor Fitzgerald analyst Josh Siegler initiated coverage of  Katapult Holdings, Inc. (NASDAQ:KPLT) stock with a Neutral rating and $6 price target earlier this month, noting some near-term headwinds for the firm. 

At the end of the second quarter of 2021, 33 hedge funds in the database of Insider Monkey held stakes worth $283 million in Katapult Holdings, Inc. (NASDAQ:KPLT).