Cantaloupe, Inc. (NASDAQ:CTLP) Short Interest Up 31.8% in August

Cantaloupe, Inc. (NASDAQ:CTLP) was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totaling 5,100,000 shares, a growth of 31.8% from the July 31st total of 3,870,000 shares. Based on an average daily volume of 2,130,000 shares, the days-to-cover ratio is currently 2.4 days. Approximately 7.5% of the company’s stock are short sold. Approximately 7.5% of the company’s stock are short sold. Based on an average daily volume of 2,130,000 shares, the days-to-cover ratio is currently 2.4 days.

Cantaloupe Stock Performance

Shares of CTLP opened at $10.81 on Wednesday. The stock has a 50-day moving average of $10.98 and a 200-day moving average of $9.46. Cantaloupe has a one year low of $5.82 and a one year high of $11.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.79 and a quick ratio of 1.22. The company has a market cap of $792.26 million, a PE ratio of 13.68 and a beta of 1.09.

Institutional Trading of Cantaloupe

A number of large investors have recently added to or reduced their stakes in the stock. Magnetar Financial LLC lifted its position in shares of Cantaloupe by 10,162.7% during the second quarter. Magnetar Financial LLC now owns 3,257,595 shares of the technology company’s stock worth $35,801,000 after acquiring an additional 3,225,853 shares in the last quarter. Beryl Capital Management LLC purchased a new stake in Cantaloupe during the 2nd quarter worth about $27,709,000. Alliancebernstein L.P. boosted its position in shares of Cantaloupe by 3,808.0% in the second quarter. Alliancebernstein L.P. now owns 1,740,226 shares of the technology company’s stock valued at $19,125,000 after acquiring an additional 1,695,696 shares during the period. Disciplined Growth Investors Inc. MN grew its stake in Cantaloupe by 60.1% during the second quarter. Disciplined Growth Investors Inc. MN now owns 3,173,351 shares of the technology company’s stock valued at $34,875,000 after acquiring an additional 1,191,748 shares in the last quarter. Finally, Alpine Associates Management Inc. purchased a new position in Cantaloupe during the second quarter valued at approximately $12,053,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Benchmark cut Cantaloupe from a “buy” rating to a “hold” rating in a research report on Tuesday, June 17th. Craig Hallum downgraded Cantaloupe from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 17th. Wall Street Zen downgraded shares of Cantaloupe from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Northland Capmk downgraded shares of Cantaloupe from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 17th. Finally, Barrington Research lowered Cantaloupe from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, June 16th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.24.

About Cantaloupe

Cantaloupe, Inc, a digital payments and software services company, provides technology solutions for self-service commerce market. The company offers integrated solutions for payments processing, logistics, and back-office management. It also provides G11 cashless and pulse kits that are 4G LTE digital payment devices for payment and consumer engagement applications; G11 chip kit, a digital reader that accepts contact EMV and contactless EMV payment methods; Engage series comprising Engage and Engage Combo, which are digital touchscreen devices that offers networking, security, and interactivity payment methods; and card touchscreen card readers, including P66, P100, P100Pro, and P30.