Cantaloupe (NASDAQ:CTLP) Sets New 52-Week High – Here’s What Happened

Cantaloupe, Inc. (NASDAQ:CTLP)’s stock price reached a new 52-week high on Monday . The stock traded as high as $11.18 and last traded at $11.1850, with a volume of 28826 shares traded. The stock had previously closed at $11.00.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Cantaloupe to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings raised shares of Cantaloupe from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.60.

Cantaloupe Trading Up 1.8%

The company’s 50 day moving average price is $10.63 and its two-hundred day moving average price is $10.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.92 and a quick ratio of 1.31. The stock has a market capitalization of $825.30 million, a PE ratio of 62.19 and a beta of 1.00.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly earnings results on Friday, February 6th. The technology company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). The business had revenue of $78.71 million during the quarter, compared to analysts’ expectations of $84.92 million. Cantaloupe had a return on equity of 8.76% and a net margin of 17.32%. As a group, analysts expect that Cantaloupe, Inc. will post 0.42 earnings per share for the current year.

Hedge Funds Weigh In On Cantaloupe

Institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its holdings in Cantaloupe by 514.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,766 shares of the technology company’s stock valued at $29,000 after purchasing an additional 2,316 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Cantaloupe in the 3rd quarter valued at about $32,000. Osaic Holdings Inc. boosted its holdings in Cantaloupe by 136.2% in the 2nd quarter. Osaic Holdings Inc. now owns 4,746 shares of the technology company’s stock valued at $52,000 after purchasing an additional 2,737 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Cantaloupe by 2,824.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 5,234 shares of the technology company’s stock valued at $55,000 after purchasing an additional 5,055 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in Cantaloupe by 142.2% in the 3rd quarter. US Bancorp DE now owns 5,667 shares of the technology company’s stock valued at $60,000 after purchasing an additional 3,327 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Cantaloupe Company Profile

Cantaloupe, Inc (NASDAQ: CTLP), formerly known as USA Technologies, is a provider of cashless payment and point-of-sale solutions for the unattended retail market. The company develops and distributes IoT-enabled hardware and software that enable vending machines, kiosks, micro markets, laundry machines and other self-service devices to accept credit and debit cards, mobile wallets and contactless payments. Its ePort® terminals integrate with back-end systems to process transactions securely and comply with the latest EMV and PCI standards.

At the core of Cantaloupe’s offering is its cloud-based ePort Connect® platform, which facilitates real-time remote monitoring, device management and data analytics.