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

Cantaloupe, Inc. (NASDAQ:CTLP)’s share price reached 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 traded. The stock had previously closed at $9.22.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CTLP. Northland Securities reiterated an “outperform” rating and issued a $10.00 price objective on shares of Cantaloupe in a research report on Friday, July 12th. Benchmark raised their price target on Cantaloupe from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday. Craig Hallum cut their price objective on 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 restated an “outperform” rating and issued a $10.00 price objective on shares of Cantaloupe in a research report on Monday.

Cantaloupe Stock Performance

The company has a 50 day simple moving average of $7.89 and a 200-day simple moving average of $7.14. 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 cap of $647.42 million, a P/E ratio of 58.67 and a beta of 1.68.

Cantaloupe (NASDAQ:CTLP) last issued its 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 the consensus estimate of $76.14 million. Cantaloupe had a return on equity of 6.83% and a net margin of 4.47%. During the same quarter in the prior year, the business posted $0.04 EPS. On average, equities analysts expect that Cantaloupe, Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Cantaloupe

In other Cantaloupe news, Director Douglas Bergeron purchased 36,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average cost of $7.41 per share, with a total value of $266,760.00. Following the acquisition, the director now owns 462,319 shares in the company, valued at approximately $3,425,783.79. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Douglas Bergeron purchased 36,000 shares of the company’s stock in a transaction that occurred on 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 purchase, the director now owns 462,319 shares in the company, valued at approximately $3,425,783.79. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ravi Venkatesan bought 8,000 shares of the stock in a transaction dated Friday, September 13th. The shares were bought at an average cost of $6.30 per share, with a total value 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 trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 57,866 shares of company stock worth $416,302. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Cantaloupe

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in shares of Cantaloupe in the second quarter worth approximately $89,000. Price T Rowe Associates Inc. MD increased its stake in 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 lifted its holdings in Cantaloupe by 68.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,075 shares of the technology company’s stock worth $152,000 after buying an additional 9,374 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Cantaloupe in the third quarter valued at $153,000. Finally, The Manufacturers Life Insurance Company grew its position 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 buying an additional 3,210 shares in the last quarter. Hedge funds and other 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.