Cantaloupe, Inc. (NASDAQ:CTLP – Get Free Report) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,200,000 shares, a growth of 13.2% from the December 15th total of 1,060,000 shares. Based on an average trading volume of 265,400 shares, the days-to-cover ratio is presently 4.5 days. Currently, 1.8% of the shares of the company are short sold.
Hedge Funds Weigh In On Cantaloupe
A number of institutional investors and hedge funds have recently modified their holdings of CTLP. BerganKDV Wealth Management LLC bought a new position in Cantaloupe during the 2nd quarter valued at about $40,000. Lazard Asset Management LLC purchased a new stake in shares of Cantaloupe in the first quarter worth approximately $40,000. FMR LLC lifted its stake in shares of Cantaloupe by 101.9% during the 3rd quarter. FMR LLC now owns 6,651 shares of the technology company’s stock worth $42,000 after acquiring an additional 3,356 shares during the last quarter. Alliancebernstein L.P. purchased a new position in Cantaloupe during the 4th quarter valued at $47,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Cantaloupe during the 2nd quarter valued at $49,000. Hedge funds and other institutional investors own 74.45% of the company’s stock.
Cantaloupe Price Performance
Shares of NASDAQ:CTLP traded down $0.33 during mid-day trading on Tuesday, reaching $6.57. The stock had a trading volume of 275,572 shares, compared to its average volume of 220,658. The business’s 50 day moving average price is $7.05 and its 200 day moving average price is $7.12. Cantaloupe has a 1 year low of $4.22 and a 1 year high of $8.28. The company has a market cap of $477.84 million, a P/E ratio of 46.93 and a beta of 1.70. The company has a current ratio of 1.53, a quick ratio of 1.17 and a debt-to-equity ratio of 0.22.
Cantaloupe (NASDAQ:CTLP – Get Free Report) last released its quarterly earnings data on Thursday, November 9th. The technology company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. Cantaloupe had a net margin of 4.51% and a return on equity of 6.96%. The business had revenue of $62.68 million during the quarter, compared to analyst estimates of $64.23 million. Research analysts expect that Cantaloupe will post 0.13 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research firms have recently weighed in on CTLP. Barrington Research reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Cantaloupe in a research report on Wednesday, January 3rd. Berenberg Bank assumed coverage on shares of Cantaloupe in a research report on Monday, October 2nd. They issued a “buy” rating and a $9.00 price target for the company. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $9.63.
About Cantaloupe
Cantaloupe, Inc, a digital payments and software services company, provides technology solutions for the unattended retail market. The company offers integrated solutions for payments processing, logistics, and back-office management. It also provides ePort, an integrated payment device that is deployed in self-service, unattended market applications, such as vending, micro-markets, amusement, arcade, commercial laundry, air/vacuum, car wash, and others, which facilitates digital payments; and integrated software services for payment or asset tracking devices.