Cantaloupe, Inc. (NASDAQ:CTLP) Sees Large Decline in Short Interest

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Cantaloupe

A number of large investors have recently bought and sold shares of CTLP. Corient Private Wealth LLC raised its holdings in shares of Cantaloupe by 52.6% during the fourth quarter. Corient Private Wealth LLC now owns 165,400 shares of the technology company’s stock valued at $1,226,000 after acquiring an additional 57,034 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Cantaloupe during the 4th quarter worth approximately $461,000. North Star Investment Management Corp. acquired a new stake in shares of Cantaloupe during the 1st quarter valued at about $1,093,000. Susquehanna Fundamental Investments LLC raised its stake in Cantaloupe by 53.2% during the first quarter. Susquehanna Fundamental Investments LLC now owns 50,333 shares of the technology company’s stock worth $324,000 after acquiring an additional 17,479 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its holdings in Cantaloupe by 11.4% during the 1st quarter. Jupiter Asset Management Ltd. now owns 34,558 shares of the technology company’s stock valued at $222,000 after purchasing an additional 3,536 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.

Cantaloupe Trading Down 0.3 %

Shares of NASDAQ:CTLP traded down $0.02 during midday trading on Monday, reaching $7.40. The company’s stock had a trading volume of 571,597 shares, compared to its average volume of 317,650. The firm has a market cap of $540.13 million, a price-to-earnings ratio of 46.25 and a beta of 1.70. Cantaloupe has a 1 year low of $5.74 and a 1 year high of $7.91. The company has a quick ratio of 1.10, a current ratio of 1.49 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average price of $6.90 and a 200 day moving average price of $6.64.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Craig Hallum decreased their target price on shares of Cantaloupe from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Benchmark reissued a “buy” rating and issued a $10.00 price target on shares of Cantaloupe in a research report on Wednesday, September 11th. Barrington Research restated an “outperform” rating and set a $10.00 target price on shares of Cantaloupe in a research note on Friday, September 13th. Finally, Northland Securities restated an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a research note on Friday, July 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $10.00.

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.