Cantaloupe, Inc. (NASDAQ:CTLP) Short Interest Update

Cantaloupe, Inc. (NASDAQ:CTLP) was the recipient of a significant drop in short interest in 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 trading volume of 325,200 shares, the days-to-cover ratio is currently 6.9 days. Approximately 3.4% of the company’s stock are sold short.

Analyst Ratings Changes

Several research firms have issued reports on CTLP. Craig Hallum dropped their price objective 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. Northland Securities restated an “outperform” rating and set a $10.00 target price on shares of Cantaloupe in a research report on Friday, July 12th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Cantaloupe in a research note on Friday, September 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cantaloupe has an average rating of “Buy” and a consensus target price of $10.00.

Cantaloupe Trading Down 0.3 %

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

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

Insider Activity at Cantaloupe

In related news, CEO Ravi Venkatesan bought 8,000 shares of Cantaloupe stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average cost of $6.30 per share, for a total transaction of $50,400.00. Following the acquisition, the chief executive officer now owns 136,658 shares in the company, valued at $860,945.40. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Ravi Venkatesan purchased 8,000 shares of the firm’s stock in a transaction on 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 completion of the acquisition, the chief executive officer now directly owns 136,658 shares of the company’s stock, valued at $860,945.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Douglas Bergeron acquired 36,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of $7.41 per share, for a total transaction 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 approximately $3,425,783.79. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 57,866 shares of company stock valued at $416,302. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cantaloupe

A number of hedge funds and other institutional investors have recently bought and sold shares of CTLP. Susquehanna Fundamental Investments LLC raised its position in Cantaloupe by 53.2% during the first quarter. Susquehanna Fundamental Investments LLC now owns 50,333 shares of the technology company’s stock valued at $324,000 after purchasing an additional 17,479 shares in the last quarter. First Eagle Investment Management LLC purchased a new stake in Cantaloupe in the second quarter worth $2,276,000. Assenagon Asset Management S.A. bought a new stake in Cantaloupe during the second quarter worth about $89,000. Advisory Services Network LLC bought a new stake in shares of Cantaloupe in the 4th quarter worth approximately $461,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Cantaloupe by 143.2% in the second quarter. Harbor Capital Advisors Inc. now owns 82,124 shares of the technology company’s stock worth $542,000 after acquiring an additional 48,356 shares during the last quarter. Institutional investors own 75.75% of the company’s stock.

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.