Cantaloupe (NASDAQ:CTLP) Hits New 52-Week High – Time to Buy?

Cantaloupe, Inc. (NASDAQ:CTLP)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $9.45 and last traded at $9.45, with a volume of 513 shares changing hands. The stock had previously closed at $9.24.

Wall Street Analyst Weigh In

CTLP has been the subject of a number of research analyst reports. Craig Hallum decreased their target price on Cantaloupe from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Barrington Research reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Cantaloupe in a research report on Friday, September 13th. Northland Securities reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Cantaloupe in a research report on Friday, July 12th. Finally, Benchmark reaffirmed a “buy” rating and set a $10.00 price objective on shares of Cantaloupe in a research report on Wednesday, September 11th.

Cantaloupe Stock Up 1.3 %

The firm has a 50-day moving average of $7.27 and a 200 day moving average of $6.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.49 and a quick ratio of 1.10. The stock has a market capitalization of $673.49 million, a price-to-earnings ratio of 57.81 and a beta of 1.71.

Cantaloupe (NASDAQ:CTLP) last issued its quarterly 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 net margin of 4.47% and a return on equity of 6.83%. The company had revenue of $72.66 million for the quarter, compared to analyst estimates of $76.14 million. During the same period last year, the company posted $0.04 earnings per share. As a group, sell-side analysts forecast that Cantaloupe, Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Cantaloupe

In other Cantaloupe news, CEO Ravi Venkatesan acquired 8,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were purchased 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 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cantaloupe news, Director Douglas Bergeron acquired 13,866 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were purchased at an average price of $7.15 per share, for a total transaction of $99,141.90. Following the completion of the purchase, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ravi Venkatesan acquired 8,000 shares of the company’s stock in a transaction 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 purchase, the chief executive officer now directly owns 136,658 shares of the company’s stock, valued at approximately $860,945.40. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 57,866 shares of company stock valued at $416,302. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Cantaloupe

Large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new position in shares of Cantaloupe during the second quarter worth approximately $89,000. Price T Rowe Associates Inc. MD increased its stake in shares of Cantaloupe by 23.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,109 shares of the technology company’s stock worth $111,000 after purchasing an additional 3,197 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Cantaloupe by 68.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,075 shares of the technology company’s stock worth $152,000 after purchasing an additional 9,374 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Cantaloupe by 15.4% during the second quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company’s stock worth $159,000 after purchasing an additional 3,210 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Cantaloupe during the third quarter worth approximately $164,000. 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.