Cantaloupe (NASDAQ:CTLP) Hits New 1-Year High – What’s Next?

Shares of Cantaloupe, Inc. (NASDAQ:CTLP) reached a new 52-week high on Tuesday . The company traded as high as $9.72 and last traded at $9.72, with a volume of 198584 shares traded. The stock had previously closed at $9.23.

Analyst Ratings Changes

A number of research analysts have weighed in on CTLP shares. Benchmark upped their target price on Cantaloupe from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Northland Securities upped their target price on Cantaloupe from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Craig Hallum reduced their target price on Cantaloupe from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Barrington Research reiterated an “outperform” rating and set a $10.00 target price on shares of Cantaloupe in a report on Monday, November 4th.

Cantaloupe Price Performance

The company has a current ratio of 1.60, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. The company has a market cap of $694.86 million, a PE ratio of 54.30 and a beta of 1.66. The firm has a 50 day moving average of $8.95 and a two-hundred day moving average of $7.60.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $70.84 million for the quarter, compared to the consensus estimate of $70.54 million. Cantaloupe had a return on equity of 7.53% and a net margin of 4.90%. During the same quarter in the prior year, the business posted $0.02 EPS. Research analysts predict that Cantaloupe, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity at Cantaloupe

In other news, CEO Ravi Venkatesan purchased 8,000 shares of the stock in a transaction dated Friday, September 13th. The shares were purchased at an average cost of $6.30 per share, with a total value of $50,400.00. Following the acquisition, the chief executive officer now directly owns 136,658 shares of the company’s stock, valued at $860,945.40. This represents a 6.22 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas Bergeron purchased 13,866 shares of the stock in a transaction dated Thursday, September 26th. The shares were purchased at an average cost of $7.15 per share, for a total transaction of $99,141.90. Following the completion of the acquisition, the director now directly owns 192,185 shares in the company, valued at approximately $1,374,122.75. This trade represents a 7.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 57,866 shares of company stock valued at $416,302. 6.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cantaloupe

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new stake in Cantaloupe during the third quarter valued at about $26,000. Assenagon Asset Management S.A. purchased a new stake in Cantaloupe in the second quarter worth about $89,000. Quantbot Technologies LP increased its position in Cantaloupe by 34.0% in the third quarter. Quantbot Technologies LP now owns 15,664 shares of the technology company’s stock worth $116,000 after buying an additional 3,975 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Cantaloupe in the third quarter worth about $119,000. Finally, Price T Rowe Associates Inc. MD increased its position in Cantaloupe by 23.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,109 shares of the technology company’s stock worth $111,000 after buying an additional 3,197 shares in the last quarter. 75.75% of the stock is owned by institutional investors.

Cantaloupe Company Profile

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.