Cantaloupe, Inc. (NASDAQ:CTLP) Short Interest Up 11.6% in September

Cantaloupe, Inc. (NASDAQ:CTLP) was the target of 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 company’s stock are short sold. Based on an average daily trading volume, of 368,200 shares, the short-interest ratio is presently 6.8 days.

Cantaloupe Stock Performance

Cantaloupe stock traded down $0.08 during midday trading on Thursday, reaching $9.16. 118,467 shares of the stock traded hands, compared to its average volume of 331,390. Cantaloupe has a fifty-two week low of $5.74 and a fifty-two week high of $9.31. The company has a current ratio of 1.49, a quick ratio of 1.10 and a debt-to-equity ratio of 0.20. The firm has a market cap of $666.94 million, a price-to-earnings ratio of 57.75 and a beta of 1.71. The firm has a fifty day moving average price of $7.17 and a two-hundred day moving average price of $6.83.

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

Insider Buying and Selling

In related news, Director Douglas Bergeron bought 13,866 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were acquired at an average price of $7.15 per share, for a total transaction of $99,141.90. Following the purchase, the director now owns 192,185 shares in the company, valued at $1,374,122.75. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Douglas Bergeron bought 13,866 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $7.15 per share, for a total transaction of $99,141.90. Following the transaction, the director now owns 192,185 shares in the company, valued at $1,374,122.75. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ravi Venkatesan purchased 8,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average cost of $6.30 per share, for a total transaction of $50,400.00. Following the completion of the transaction, the chief executive officer now owns 136,658 shares in the company, valued at approximately $860,945.40. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 57,866 shares of company stock worth $416,302. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Inspire Investing LLC acquired a new position in shares of Cantaloupe during the third quarter valued at $416,000. SG Americas Securities LLC acquired a new position in Cantaloupe during the 3rd quarter valued at about $164,000. Disciplined Growth Investors Inc. MN increased its stake 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 valued at $10,568,000 after buying an additional 14,431 shares during the period. Susquehanna Fundamental Investments LLC raised its position in shares of Cantaloupe by 7.3% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 54,023 shares of the technology company’s stock worth $357,000 after buying an additional 3,690 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Cantaloupe by 15.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company’s stock worth $159,000 after acquiring an additional 3,210 shares during the period. Institutional investors and hedge funds own 75.75% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CTLP. Barrington Research reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a report on Friday, September 13th. Craig Hallum decreased their target price on Cantaloupe from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Benchmark reiterated a “buy” rating and set a $10.00 price target on shares of Cantaloupe in a research report on Wednesday, September 11th. Finally, Northland Securities restated an “outperform” rating and set a $10.00 price objective on shares of Cantaloupe in a research report on Friday, July 12th.

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.