Cantaloupe, Inc. (NASDAQ:CTLP) Short Interest Up 41.8% in July

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 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. Approximately5.7% of the company's stock are sold short. Based on an average daily volume of 1,910,000 shares, the short-interest ratio is presently 2.0 days. Based on an average daily volume of 1,910,000 shares, the short-interest ratio is presently 2.0 days. Approximately5.7% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CTLP shares. Craig Hallum downgraded Cantaloupe from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Benchmark downgraded Cantaloupe from a "buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Barrington Research downgraded Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, June 16th. Wall Street Zen downgraded Cantaloupe from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, Northland Capmk cut shares of Cantaloupe from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $12.24.

Hedge Funds Weigh In On Cantaloupe

Several institutional investors have recently added to or reduced their stakes in CTLP. State of Wyoming raised its holdings in Cantaloupe by 291.3% during the 2nd quarter. State of Wyoming now owns 55,863 shares of the technology company's stock valued at $614,000 after buying an additional 41,586 shares during the period. Tower Research Capital LLC TRC grew its stake in Cantaloupe by 41.2% in the second 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 in the last quarter. Cannell Capital LLC bought a new position in Cantaloupe in the second quarter worth approximately $368,000. Water Island Capital LLC bought a new position in Cantaloupe in the second quarter worth approximately $10,384,000. Finally, Lazard Asset Management LLC bought a new position in Cantaloupe in the second quarter worth approximately $1,586,000. Hedge funds and other institutional investors own 75.75% of the company's stock.

Cantaloupe Stock Performance

NASDAQ CTLP opened at $10.87 on Wednesday. The stock has a market capitalization of $796.66 million, a PE ratio of 13.76 and a beta of 1.18. The business has a 50 day simple moving average of $10.94 and a two-hundred day simple moving average of $9.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.79 and a quick ratio of 1.22. Cantaloupe has a 1-year low of $5.82 and a 1-year high of $11.36.

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.

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