Cantaloupe (NASDAQ:CTLP) Hits New 52-Week High – Here’s What Happened

Cantaloupe, Inc. (NASDAQ:CTLP)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $8.36 and last traded at $8.36, with a volume of 82701 shares changing hands. The stock had previously closed at $8.03.

Wall Street Analysts Forecast Growth

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

Cantaloupe Stock Performance

The company has a quick ratio of 1.10, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. The stock has a market cap of $647.42 million, a price-to-earnings ratio of 59.14 and a beta of 1.71. The stock’s fifty day moving average is $6.99 and its 200-day moving average is $6.75.

Cantaloupe (NASDAQ:CTLP) last announced its quarterly earnings results on Tuesday, September 10th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm 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 period last year, the firm earned $0.04 EPS. On average, analysts forecast that Cantaloupe, Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In related news, Director Douglas Bergeron purchased 36,000 shares of Cantaloupe stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $7.41 per share, for a total transaction of $266,760.00. Following the completion of the acquisition, the director now directly owns 462,319 shares of the company’s stock, valued at $3,425,783.79. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Ravi Venkatesan bought 8,000 shares of the business’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 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas Bergeron purchased 36,000 shares of Cantaloupe stock in a transaction on Monday, September 30th. The shares were purchased at an average cost of $7.41 per share, with a total value of $266,760.00. Following the transaction, the director now owns 462,319 shares in the company, valued at approximately $3,425,783.79. The trade was a 0.00 % increase in their ownership of the stock. 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. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Cantaloupe

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. bought a new position in Cantaloupe in the second quarter valued at $89,000. Price T Rowe Associates Inc. MD increased its position in shares of 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 acquiring an additional 3,197 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Cantaloupe in the third quarter valued at about $164,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in 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 acquiring an additional 9,374 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Cantaloupe by 15.4% during the second quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company’s stock valued at $159,000 after purchasing an additional 3,210 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.