Short Interest in Cantaloupe, Inc. (NASDAQ:CTLP) Expands By 11.6%

Cantaloupe, Inc. (NASDAQ:CTLP) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 2,510,000 shares, an increase of 11.6% from the September 15th total of 2,250,000 shares. Approximately 3.7% of the shares of the stock are short sold. Based on an average trading volume of 368,200 shares, the short-interest ratio is presently 6.8 days.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, CEO Ravi Venkatesan bought 8,000 shares of Cantaloupe stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average price of $6.30 per share, with a total value of $50,400.00. Following the purchase, the chief executive officer now owns 136,658 shares in the company, valued at $860,945.40. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Ravi Venkatesan bought 8,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average price of $6.30 per share, with a total value of $50,400.00. Following the purchase, the chief executive officer now owns 136,658 shares of the company’s stock, valued at $860,945.40. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Douglas Bergeron bought 36,000 shares of Cantaloupe stock in a transaction on Monday, September 30th. The stock was purchased 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 owns 462,319 shares in the company, valued at $3,425,783.79. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 57,866 shares of company stock worth $416,302. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Cantaloupe

Several hedge funds and other institutional investors have recently made changes to their positions in CTLP. Disciplined Growth Investors Inc. MN lifted its position in 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 acquiring an additional 14,431 shares in the last quarter. Archon Capital Management LLC raised its stake in shares of Cantaloupe by 8.2% during the first quarter. Archon Capital Management LLC now owns 1,434,125 shares of the technology company’s stock valued at $9,221,000 after purchasing an additional 108,423 shares during the period. First Eagle Investment Management LLC acquired a new position in shares of Cantaloupe during the second quarter worth $2,276,000. Bank of New York Mellon Corp boosted its stake in shares of Cantaloupe by 10.8% in the second quarter. Bank of New York Mellon Corp now owns 212,891 shares of the technology company’s stock valued at $1,405,000 after purchasing an additional 20,835 shares during the period. Finally, North Star Investment Management Corp. acquired a new stake in Cantaloupe during the 1st quarter valued at $1,093,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Cantaloupe Trading Down 0.9 %

NASDAQ:CTLP traded down $0.08 on Thursday, hitting $9.16. 118,467 shares of the stock were exchanged, compared to its average volume of 331,390. The stock has a fifty day moving average of $7.17 and a 200-day moving average of $6.83. The stock has a market cap of $666.94 million, a PE ratio of 57.75 and a beta of 1.71. The company has a current ratio of 1.49, a quick ratio of 1.10 and a debt-to-equity ratio of 0.20. Cantaloupe has a fifty-two week low of $5.74 and a fifty-two week high of $9.31.

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

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.