Cantaloupe (NASDAQ:CTLP) Sets 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 Monday . The stock traded as high as $9.95 and last traded at $9.95, with a volume of 207461 shares. The stock had previously closed at $9.25.

Analysts Set New Price Targets

CTLP has been the topic of several recent analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a report on Monday, November 4th. Craig Hallum reduced their price target on shares of Cantaloupe from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Benchmark boosted their price objective on Cantaloupe from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Northland Securities lifted their target price on Cantaloupe from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th.

Cantaloupe Stock Down 4.7 %

The firm has a 50-day moving average of $9.17 and a two-hundred day moving average of $7.72. The stock has a market capitalization of $718.18 million, a price-to-earnings ratio of 57.89 and a beta of 1.66. The company has a quick ratio of 1.03, a current ratio of 1.60 and a debt-to-equity ratio of 0.19.

Cantaloupe (NASDAQ:CTLP) last released its earnings results on Thursday, November 7th. The technology company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. Cantaloupe had a net margin of 4.90% and a return on equity of 7.53%. The company had revenue of $70.84 million during the quarter, compared to the consensus estimate of $70.54 million. During the same quarter in the prior year, the firm earned $0.02 EPS. As a group, sell-side analysts anticipate that Cantaloupe, Inc. will post 0.32 earnings per share for the current year.

Insider Transactions at Cantaloupe

In other news, Director Douglas Bergeron purchased 36,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was bought at an average cost 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 approximately $3,425,783.79. The trade was a 8.44 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cantaloupe

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTLP. Quarry LP acquired a new stake in Cantaloupe in the 3rd quarter valued at $26,000. Assenagon Asset Management S.A. acquired a new stake in shares of Cantaloupe during the 2nd quarter worth about $89,000. Quantbot Technologies LP lifted its holdings in Cantaloupe by 34.0% during the 3rd quarter. Quantbot Technologies LP now owns 15,664 shares of the technology company’s stock valued at $116,000 after purchasing an additional 3,975 shares during the last quarter. Intech Investment Management LLC acquired a new position in Cantaloupe in the third quarter valued at about $119,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 buying an additional 9,374 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors.

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.