Cantaloupe (NASDAQ:CTLP) Hits New 12-Month High – Here’s Why

Cantaloupe, Inc. (NASDAQ:CTLP) reached a new 52-week high during trading on Tuesday . The company traded as high as $11.36 and last traded at $9.96, with a volume of 1496373 shares. The stock had previously closed at $10.35.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CTLP. Barrington Research raised their target price on shares of Cantaloupe from $12.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Benchmark increased their price target on shares of Cantaloupe from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Northland Securities raised their price objective 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 Up 0.6 %

The firm has a market capitalization of $760.66 million, a PE ratio of 52.00 and a beta of 1.64. The company has a quick ratio of 1.12, a current ratio of 1.81 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $9.26 and a 200-day moving average price of $8.51.

Cantaloupe (NASDAQ:CTLP) last announced its quarterly earnings results on Thursday, February 6th. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. Cantaloupe had a return on equity of 8.36% and a net margin of 5.40%. During the same period last year, the firm posted $0.04 EPS. Equities research analysts forecast that Cantaloupe, Inc. will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cantaloupe

Institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Cantaloupe by 3.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,719 shares of the technology company’s stock valued at $844,000 after buying an additional 2,792 shares during the period. Rhumbline Advisers lifted its stake in Cantaloupe by 4.1% in the fourth quarter. Rhumbline Advisers now owns 80,973 shares of the technology company’s stock worth $770,000 after acquiring an additional 3,221 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Cantaloupe by 75.8% during the 4th quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company’s stock worth $75,000 after acquiring an additional 3,400 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Cantaloupe by 18.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,283 shares of the technology company’s stock valued at $212,000 after purchasing an additional 3,462 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Cantaloupe in the 3rd quarter valued at $26,000. Institutional investors and hedge funds 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.