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

Key Points

• Cantaloupe stock reached a new 52-week high, trading as high as $11.18 on Monday and last at $11.1850 on a volume of about 28,826 shares.
• Analysts maintain a consensus Hold rating with an average price target of $12.60 (1 Buy, 6 Hold, 1 Sell), and recent re-ratings include upgrades from Weiss Ratings and Wall Street Zen.
• The company recently missed quarterly estimates — $0.04 EPS vs. $0.10 expected and $78.71M revenue vs. $84.92M expected — yet has a market cap of $825.3M, a P/E of 62.19 and high institutional ownership (75.75%) after several large funds increased stakes.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wall Street Zen raised shares of Cantaloupe to a "hold" rating in a research report on Saturday, February 21st. Weiss Ratings raised shares of Cantaloupe from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, February 9th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $12.60.

Cantaloupe Trading Up 1.8%

The company has a market cap of $825.30 million, a price-to-earnings ratio of 62.19 and a beta of 1.00. The company has a quick ratio of 1.31, a current ratio of 1.92 and a debt-to-equity ratio of 0.14. The company's 50-day moving average is $10.63 and its 200 day moving average is $10.62.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last released its quarterly earnings results on Friday, February 6th. The technology company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). The firm had revenue of $78.71 million for the quarter, compared to analyst estimates of $84.92 million. Cantaloupe had a net margin of 17.32% and a return on equity of 8.76%. Research analysts predict that Cantaloupe, Inc. will post 0.42 EPS for the current year.

Institutional Trading of Cantaloupe

Several institutional investors have recently modified their holdings of CTLP. SG Americas Securities LLC grew its position in shares of Cantaloupe by 574.8% in the first quarter. SG Americas Securities LLC now owns 2,071,355 shares of the technology company's stock valued at $22,391,000 after purchasing an additional 1,764,412 shares during the period. Alliancebernstein L.P. grew its position in shares of Cantaloupe by 3,808.0% in the second quarter. Alliancebernstein L.P. now owns 1,740,226 shares of the technology company's stock valued at $19,125,000 after purchasing an additional 1,695,696 shares during the period. Hudson Bay Capital Management LP acquired a new stake in shares of Cantaloupe in the third quarter valued at about $16,433,000. Qube Research & Technologies Ltd lifted its stake in shares of Cantaloupe by 346.8% in the third quarter. Qube Research & Technologies Ltd now owns 1,936,945 shares of the technology company's stock worth $20,474,000 after buying an additional 1,503,453 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its stake in shares of Cantaloupe by 60.1% in the second quarter. Disciplined Growth Investors Inc. MN now owns 3,173,351 shares of the technology company's stock worth $34,875,000 after buying an additional 1,191,748 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.

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.

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