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

Cantaloupe, Inc. (NASDAQ:CTLP)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $9.95 and last traded at $9.95, with a volume of 207461 shares changing hands. The stock had previously closed at $9.25.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CTLP. Northland Securities raised their price objective on shares of Cantaloupe from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Benchmark raised their price target on shares of Cantaloupe from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, November 8th. Craig Hallum reduced their price objective on Cantaloupe from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Barrington Research reiterated an “outperform” rating and issued a $10.00 price objective on shares of Cantaloupe in a research report on Monday, November 4th.

Cantaloupe Stock Performance

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

Cantaloupe (NASDAQ:CTLP) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Cantaloupe had a net margin of 4.90% and a return on equity of 7.53%. The firm had revenue of $70.84 million during the quarter, compared to analysts’ expectations of $70.54 million. During the same quarter in the previous year, the company earned $0.02 earnings per share. Analysts predict that Cantaloupe, Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In other Cantaloupe news, Director Douglas Bergeron acquired 36,000 shares of Cantaloupe stock in a transaction dated 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 purchase, the director now directly owns 462,319 shares in the company, valued at approximately $3,425,783.79. This represents a 8.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP acquired a new position in shares of Cantaloupe in the third quarter valued at approximately $26,000. Assenagon Asset Management S.A. acquired a new position in Cantaloupe in the 2nd quarter valued at $89,000. Quantbot Technologies LP increased its position in Cantaloupe by 34.0% during the 3rd quarter. Quantbot Technologies LP now owns 15,664 shares of the technology company’s stock worth $116,000 after buying an additional 3,975 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Cantaloupe during the third quarter worth $119,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Cantaloupe in the third quarter valued at about $153,000. 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.