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

Key Points

• Cantaloupe, Inc.'s short interest surged by 41.8% in July, reaching a total of 3,870,000 shares, which represents approximately 5.7% of its stock sold short.
• Several analysts have downgraded Cantaloupe's stock ratings, leading to an average rating of "Hold" and a target price of $12.24.
• Institutional investors own 75.75% of Cantaloupe's stock, with notable increases in holdings from firms like State of Wyoming and Water Island Capital during the second quarter.

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 3,870,000 shares, anincreaseof41.8% from the July 15th total of 2,730,000 shares. Based on an average daily volume of 1,910,000 shares, the days-to-cover ratio is presently 2.0 days. Approximately5.7% of the shares of the company are short sold. Approximately5.7% of the shares of the company are short sold. Based on an average daily volume of 1,910,000 shares, the days-to-cover ratio is presently 2.0 days.

Analyst Ratings Changes

A number of equities analysts have weighed in on CTLP shares. Barrington Research lowered Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, June 16th. Benchmark cut Cantaloupe from a "buy" rating to a "hold" rating in a report on Tuesday, June 17th. B. Riley cut Cantaloupe from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $11.50 to $11.20 in a report on Tuesday, June 17th. Craig Hallum lowered Cantaloupe from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Finally, William Blair lowered Cantaloupe from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $12.24.

Cantaloupe Stock Performance

CTLP stock traded down $0.0230 during trading on Monday, reaching $10.8470. The stock had a trading volume of 290,132 shares, compared to its average volume of 1,136,525. The firm has a market cap of $794.97 million, a PE ratio of 13.73 and a beta of 1.18. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 0.15. The stock's 50 day moving average is $11.01 and its two-hundred day moving average is $9.43. Cantaloupe has a 52 week low of $5.82 and a 52 week high of $11.36.

Institutional Investors Weigh In On Cantaloupe

Institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC raised its position in Cantaloupe by 8,886.0% during the 1st quarter. Farther Finance Advisors LLC now owns 4,493 shares of the technology company's stock valued at $35,000 after purchasing an additional 4,443 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Cantaloupe by 55.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,772 shares of the technology company's stock worth $63,000 after acquiring an additional 2,063 shares during the period. Longfellow Investment Management Co. LLC acquired a new position in shares of Cantaloupe in the 2nd quarter valued at about $76,000. Bailard Inc. acquired a new position in shares of Cantaloupe in the 1st quarter valued at about $87,000. Finally, Tower Research Capital LLC TRC raised its holdings in Cantaloupe by 41.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,940 shares of the technology company's stock worth $87,000 after purchasing an additional 2,315 shares during the period. 75.75% of the stock is owned by institutional investors.

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.