Cantaloupe, Inc. (NASDAQ:CTLP) Sees Significant Decrease in Short Interest

Cantaloupe, Inc. (NASDAQ:CTLP) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 2,250,000 shares, a drop of 5.5% from the August 31st total of 2,380,000 shares. Based on an average daily volume of 325,200 shares, the short-interest ratio is presently 6.9 days. Currently, 3.4% of the company’s shares are short sold.

Analyst Ratings Changes

CTLP has been the subject of several research analyst reports. Craig Hallum lowered their price objective on Cantaloupe from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Barrington Research reissued an “outperform” rating and issued a $10.00 price objective on shares of Cantaloupe in a research report on Friday, September 13th. Northland Securities reissued an “outperform” rating and issued a $10.00 price objective on shares of Cantaloupe in a research report on Friday, July 12th. Finally, Benchmark reissued a “buy” rating and issued a $10.00 price objective on shares of Cantaloupe in a research report on Wednesday, September 11th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $10.00.

Insider Buying and Selling

In related news, CEO Ravi Venkatesan bought 8,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average cost of $6.30 per share, with a total value of $50,400.00. Following the transaction, the chief executive officer now directly owns 136,658 shares in the company, valued at $860,945.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Ravi Venkatesan bought 8,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average cost of $6.30 per share, with a total value of $50,400.00. Following the transaction, the chief executive officer now directly owns 136,658 shares in the company, valued at $860,945.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas Bergeron bought 13,866 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average cost of $7.15 per share, with a total value of $99,141.90. Following the completion of the transaction, the director now owns 192,185 shares in the company, valued at $1,374,122.75. The disclosure for this purchase can be found here. Insiders purchased a total of 57,866 shares of company stock valued at $416,302 in the last three months. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Cantaloupe

A number of hedge funds have recently added to or reduced their stakes in the stock. Disciplined Growth Investors Inc. MN boosted 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 purchasing an additional 14,431 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in shares of Cantaloupe by 7.3% in 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 during the last quarter. The Manufacturers Life Insurance Company boosted 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 buying an additional 3,210 shares during the last quarter. Squarepoint Ops LLC boosted its stake in shares of Cantaloupe by 163.2% in the 2nd quarter. Squarepoint Ops LLC now owns 31,228 shares of the technology company’s stock worth $206,000 after buying an additional 19,365 shares during the last quarter. Finally, First Eagle Investment Management LLC purchased a new position in shares of Cantaloupe in the 2nd quarter worth approximately $2,276,000. Institutional investors and hedge funds own 75.75% of the company’s stock.

Cantaloupe Stock Performance

Shares of CTLP opened at $7.87 on Wednesday. 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 stock has a 50-day moving average of $6.91 and a 200-day moving average of $6.66. The company has a market cap of $573.01 million, a PE ratio of 49.19 and a beta of 1.70. Cantaloupe has a one year low of $5.74 and a one year high of $8.21.

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

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.