Short Interest in Cantaloupe, Inc. (NASDAQ:CTLP) Rises By 7.4%

Cantaloupe, Inc. (NASDAQ:CTLP) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 2,330,000 shares, a growth of 7.4% from the November 30th total of 2,170,000 shares. Based on an average daily volume of 445,900 shares, the days-to-cover ratio is currently 5.2 days. Currently, 3.6% of the company’s shares are sold short.

Analysts Set New Price Targets

CTLP has been the subject of several research analyst reports. Craig Hallum lowered their price objective on shares of Cantaloupe from $13.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Benchmark raised their price target on shares of Cantaloupe from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, November 8th. Barrington Research restated an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a research note on Monday, November 4th. Finally, Northland Securities increased their target price on Cantaloupe from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Monday, November 11th.

Cantaloupe Price Performance

NASDAQ CTLP traded down $0.01 on Thursday, reaching $9.50. The company had a trading volume of 20,777 shares, compared to its average volume of 345,758. The company has a quick ratio of 1.03, a current ratio of 1.60 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $693.37 million, a PE ratio of 55.89 and a beta of 1.66. Cantaloupe has a 12 month low of $5.74 and a 12 month high of $10.48. The firm’s 50 day moving average price is $9.25 and its 200 day moving average price is $7.90.

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

Institutional Investors Weigh In On Cantaloupe

Several large investors have recently added to or reduced their stakes in CTLP. Wasatch Advisors LP raised its holdings in shares of Cantaloupe by 20.3% in the third quarter. Wasatch Advisors LP now owns 1,613,057 shares of the technology company’s stock worth $11,937,000 after buying an additional 271,782 shares during the period. Disciplined Growth Investors Inc. MN boosted its position in Cantaloupe by 0.4% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,608,375 shares of the technology company’s stock valued at $11,902,000 after acquiring an additional 7,114 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Cantaloupe by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,366,034 shares of the technology company’s stock valued at $10,111,000 after acquiring an additional 46,518 shares during the period. State Street Corp lifted its stake in shares of Cantaloupe by 2.4% during the 3rd quarter. State Street Corp now owns 1,237,888 shares of the technology company’s stock worth $9,160,000 after purchasing an additional 29,460 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Cantaloupe by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the technology company’s stock worth $3,518,000 after purchasing an additional 21,938 shares during the last quarter. 75.75% of the stock is owned by institutional investors.

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.