Cantaloupe (NASDAQ:CTLP) Sets New 12-Month High – What’s Next?

Cantaloupe, Inc. (NASDAQ:CTLP) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $9.66 and last traded at $9.45, with a volume of 109319 shares changing hands. The stock had previously closed at $9.22.

Analysts Set New Price Targets

CTLP has been the topic of a number of research reports. Barrington Research reiterated an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a research note on Monday. Northland Securities restated an “outperform” rating and set a $10.00 target price on shares of Cantaloupe in a research report on Friday, July 12th. Craig Hallum decreased their target price on shares of Cantaloupe from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Benchmark restated a “buy” rating and set a $10.00 target price on shares of Cantaloupe in a research report on Wednesday, September 11th.

Cantaloupe Stock Performance

The stock’s 50-day simple moving average is $7.79 and its 200-day simple moving average is $7.11. The company has a current ratio of 1.49, a quick ratio of 1.10 and a debt-to-equity ratio of 0.20. The stock has a market cap of $684.65 million, a price-to-earnings ratio of 63.40 and a beta of 1.68.

Cantaloupe (NASDAQ:CTLP) last announced its quarterly earnings data on Tuesday, September 10th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Cantaloupe had a net margin of 4.47% and a return on equity of 6.83%. The firm had revenue of $72.66 million during the quarter, compared to the consensus estimate of $76.14 million. During the same period last year, the business earned $0.04 earnings per share. Analysts forecast that Cantaloupe, Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Cantaloupe

In related news, Director Douglas Bergeron bought 36,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was purchased at an average price of $7.41 per share, with a total value of $266,760.00. Following the completion of the acquisition, the director now owns 462,319 shares of the company’s stock, valued at $3,425,783.79. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cantaloupe news, CEO Ravi Venkatesan acquired 8,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $6.30 per share, for a total transaction of $50,400.00. Following the acquisition, the chief executive officer now directly owns 136,658 shares in the company, valued at $860,945.40. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Douglas Bergeron bought 36,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average price of $7.41 per share, for a total transaction of $266,760.00. Following the completion of the transaction, the director now owns 462,319 shares in the company, valued at $3,425,783.79. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 57,866 shares of company stock valued at $416,302. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Cantaloupe

Several large investors have recently modified their holdings of the business. First Eagle Investment Management LLC bought a new position in shares of Cantaloupe during the second quarter worth about $2,276,000. Archon Capital Management LLC raised its holdings in Cantaloupe by 8.2% during the 1st quarter. Archon Capital Management LLC now owns 1,434,125 shares of the technology company’s stock worth $9,221,000 after purchasing an additional 108,423 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Cantaloupe by 152.7% in the 1st quarter. Janus Henderson Group PLC now owns 99,321 shares of the technology company’s stock worth $638,000 after purchasing an additional 60,013 shares during the period. Inspire Investing LLC bought a new stake in shares of Cantaloupe in the 3rd quarter valued at $416,000. Finally, Harbor Capital Advisors Inc. increased its position in shares of Cantaloupe by 143.2% during the second quarter. Harbor Capital Advisors Inc. now owns 82,124 shares of the technology company’s stock worth $542,000 after buying an additional 48,356 shares during the period. Institutional investors own 75.75% of the company’s stock.

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.