Cantaloupe (NASDAQ:CTLP) Hits New 12-Month High – Should You Buy?

Cantaloupe, Inc. (NASDAQ:CTLP)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $8.36 and last traded at $8.36, with a volume of 82701 shares traded. The stock had previously closed at $8.03.

Wall Street Analyst Weigh In

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

Cantaloupe Stock Down 1.4 %

The stock has a 50-day moving average of $6.99 and a 200-day moving average of $6.75. 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 firm has a market cap of $647.42 million, a price-to-earnings ratio of 59.14 and a beta of 1.71.

Cantaloupe (NASDAQ:CTLP) last released its 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 company had revenue of $72.66 million for the quarter, compared to the consensus estimate of $76.14 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. Sell-side analysts predict that Cantaloupe, Inc. will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ravi Venkatesan bought 8,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $6.30 per share, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now owns 136,658 shares of the company’s stock, valued at $860,945.40. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cantaloupe news, Director Douglas Bergeron acquired 36,000 shares of Cantaloupe stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average cost of $7.41 per share, with a total value of $266,760.00. Following the completion of the purchase, the director now directly owns 462,319 shares of the company’s stock, valued at $3,425,783.79. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ravi Venkatesan bought 8,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was acquired at an average price of $6.30 per share, for a total transaction of $50,400.00. Following the transaction, the chief executive officer now owns 136,658 shares of the company’s stock, valued at approximately $860,945.40. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 57,866 shares of company stock worth $416,302 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Cantaloupe

Hedge funds have recently made changes to their positions in the stock. First Eagle Investment Management LLC acquired a new position in Cantaloupe during the 2nd quarter worth approximately $2,276,000. North Star Investment Management Corp. acquired a new position in shares of Cantaloupe during the first quarter worth $1,093,000. Archon Capital Management LLC lifted its stake in shares of Cantaloupe by 8.2% in the 1st quarter. Archon Capital Management LLC now owns 1,434,125 shares of the technology company’s stock valued at $9,221,000 after acquiring an additional 108,423 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Cantaloupe by 152.7% during the 1st quarter. Janus Henderson Group PLC now owns 99,321 shares of the technology company’s stock valued at $638,000 after acquiring an additional 60,013 shares in the last quarter. Finally, Inspire Investing LLC bought a new stake in Cantaloupe during the 3rd quarter worth $416,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.