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

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

Analysts Set New Price Targets

Several analysts have recently weighed in on CTLP shares. Benchmark reaffirmed a “buy” rating and issued a $10.00 target price on shares of Cantaloupe in a report on Wednesday, September 11th. 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 lowered their target price 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. Finally, Barrington Research reiterated an “outperform” rating and set a $10.00 price objective on shares of Cantaloupe in a research note on Monday.

Cantaloupe Price Performance

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

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

Insiders Place Their Bets

In other news, CEO Ravi Venkatesan bought 8,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $6.30 per share, for a total transaction of $50,400.00. Following the completion of the purchase, the chief executive officer now owns 136,658 shares of the company’s stock, valued at approximately $860,945.40. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Ravi Venkatesan purchased 8,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was bought at an average price 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 approximately $860,945.40. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Douglas Bergeron purchased 36,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was purchased at an average cost of $7.41 per share, with a total value of $266,760.00. Following the acquisition, the director now directly 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. Insiders acquired a total of 57,866 shares of company stock worth $416,302 over the last quarter. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Disciplined Growth Investors Inc. MN lifted its stake in shares of Cantaloupe by 0.9% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,601,261 shares of the technology company’s stock worth $10,568,000 after buying an additional 14,431 shares during the last quarter. Archon Capital Management LLC grew its stake in Cantaloupe by 8.2% in the 1st quarter. Archon Capital Management LLC now owns 1,434,125 shares of the technology company’s stock valued at $9,221,000 after buying an additional 108,423 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in Cantaloupe in the 2nd quarter valued at about $2,276,000. Bank of New York Mellon Corp grew its stake in Cantaloupe by 10.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 212,891 shares of the technology company’s stock valued at $1,405,000 after buying an additional 20,835 shares during the last quarter. Finally, ClariVest Asset Management LLC grew its stake in Cantaloupe by 2.8% in the 2nd quarter. ClariVest Asset Management LLC now owns 112,469 shares of the technology company’s stock valued at $742,000 after buying an additional 3,011 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.