Cantaloupe (NASDAQ:CTLP) Hits New 1-Year High – Time to Buy?

Cantaloupe, Inc. (NASDAQ:CTLP)’s share price hit a new 52-week high on Wednesday . The company traded as high as $10.54 and last traded at $10.53, with a volume of 1247242 shares. The stock had previously closed at $9.93.

Analysts Set New Price Targets

Several research analysts have commented on the company. Northland Securities raised their price objective on Cantaloupe from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Barrington Research reissued an “outperform” rating and set a $12.00 price target on shares of Cantaloupe in a research report on Monday, February 3rd. Finally, Benchmark upped their price target on Cantaloupe from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, November 8th.

Cantaloupe Trading Up 6.0 %

The business’s 50-day simple moving average is $9.00 and its two-hundred day simple moving average is $8.28. The company has a current ratio of 1.60, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $768.58 million, a PE ratio of 52.65 and a beta of 1.64.

Cantaloupe (NASDAQ:CTLP) last issued its quarterly earnings results on Thursday, February 6th. The technology company reported $0.07 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 in the prior year, the company earned $0.04 earnings per share. On average, analysts predict that Cantaloupe, Inc. will post 0.32 earnings per share for the current year.

Institutional Trading of Cantaloupe

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Cantaloupe by 6.4% during the 4th quarter. Vanguard Group Inc. now owns 3,539,115 shares of the technology company’s stock valued at $33,657,000 after acquiring an additional 212,456 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Cantaloupe during the fourth quarter worth about $91,000. Harvest Fund Management Co. Ltd acquired a new position in Cantaloupe in the fourth quarter worth about $40,000. Intech Investment Management LLC increased its holdings in Cantaloupe by 58.4% in the fourth quarter. Intech Investment Management LLC now owns 25,547 shares of the technology company’s stock valued at $243,000 after buying an additional 9,414 shares during the last quarter. Finally, Royce & Associates LP raised its stake in Cantaloupe by 99.6% during the fourth quarter. Royce & Associates LP now owns 563,000 shares of the technology company’s stock valued at $5,354,000 after buying an additional 281,000 shares in the last quarter. Institutional investors own 75.75% of the company’s stock.

About Cantaloupe

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.