Cantaloupe (NASDAQ:CTLP) Reaches New 52-Week High – Should You Buy?

Cantaloupe, Inc. (NASDAQ:CTLP) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $11.16 and last traded at $11.15, with a volume of 619914 shares changing hands. The stock had previously closed at $10.67.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CTLP shares. Benchmark boosted their target price on shares of Cantaloupe from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Northland Securities boosted their target price on shares of Cantaloupe from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Barrington Research upped their price target on shares of Cantaloupe from $12.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th.

Cantaloupe Trading Up 4.5 %

The firm has a market cap of $813.84 million, a PE ratio of 55.75 and a beta of 1.64. The company’s 50 day moving average price is $9.17 and its two-hundred day moving average price is $8.39. The company has a quick ratio of 1.03, a current ratio of 1.60 and a debt-to-equity ratio of 0.19.

Cantaloupe (NASDAQ:CTLP) last announced its quarterly earnings results on Thursday, February 6th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Cantaloupe had a return on equity of 8.45% and a net margin of 5.40%. During the same period last year, the business earned $0.04 earnings per share. As a group, sell-side analysts forecast that Cantaloupe, Inc. will post 0.32 EPS for the current year.

Institutional Trading of Cantaloupe

A number of hedge funds have recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of Cantaloupe during the 3rd quarter valued at $26,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Cantaloupe in the 4th quarter valued at $40,000. Parkside Financial Bank & Trust acquired a new position in shares of Cantaloupe in the 4th quarter valued at $47,000. New York State Common Retirement Fund grew its position in Cantaloupe by 75.8% during the 4th quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company’s stock worth $75,000 after purchasing an additional 3,400 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in Cantaloupe during the 4th quarter worth about $77,000. Hedge funds and other 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.