Cantaloupe (NASDAQ:CTLP) Reaches New 1-Year High – Time to Buy?

Cantaloupe, Inc. (NASDAQ:CTLP) reached a new 52-week high during mid-day trading 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

A number of brokerages have recently commented on CTLP. Barrington Research reaffirmed an “outperform” rating and issued a $10.00 target price on shares of Cantaloupe in a report on Monday. Northland Securities reissued an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a report on Friday, July 12th. Benchmark boosted their price objective on shares of Cantaloupe from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Friday. Finally, Craig Hallum lowered 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.

Cantaloupe Stock Down 4.8 %

The firm’s fifty day moving average is $7.89 and its 200-day moving average is $7.14. The stock has a market capitalization of $647.42 million, a price-to-earnings ratio of 58.67 and a beta of 1.68. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 1.10.

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

Insider Buying and Selling at Cantaloupe

In other Cantaloupe news, Director Douglas Bergeron purchased 13,866 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were purchased at an average cost of $7.15 per share, with a total value of $99,141.90. Following the completion of the transaction, the director now owns 192,185 shares of the company’s stock, valued at approximately $1,374,122.75. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cantaloupe news, CEO Ravi Venkatesan acquired 8,000 shares of Cantaloupe stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $6.30 per share, with a total value of $50,400.00. Following the completion of the transaction, the chief executive officer now owns 136,658 shares of the company’s stock, valued at $860,945.40. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas Bergeron acquired 13,866 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were bought at an average cost of $7.15 per share, with a total value of $99,141.90. Following the transaction, the director now directly owns 192,185 shares of the company’s stock, valued at $1,374,122.75. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 57,866 shares of company stock valued at $416,302. 6.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ARS Investment Partners LLC boosted its stake in shares of Cantaloupe by 3.4% in the 2nd quarter. ARS Investment Partners LLC now owns 50,059 shares of the technology company’s stock valued at $330,000 after purchasing an additional 1,650 shares during the last quarter. ClariVest Asset Management LLC raised its position 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. Price T Rowe Associates Inc. MD grew 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 valued at $111,000 after purchasing an additional 3,197 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Cantaloupe by 15.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company’s stock valued at $159,000 after acquiring an additional 3,210 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its stake in Cantaloupe by 11.4% in the first quarter. Jupiter Asset Management Ltd. now owns 34,558 shares of the technology company’s stock valued at $222,000 after purchasing an additional 3,536 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

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.