Cantaloupe (NASDAQ:CTLP) Reaches New 52-Week High – Should You Buy?

Cantaloupe, Inc. (NASDAQ:CTLP)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $11.16 and last traded at $11.15, with a volume of 619914 shares traded. The stock had previously closed at $10.67.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barrington Research boosted their price target on shares of Cantaloupe from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Benchmark boosted their price target on shares of Cantaloupe from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Northland Securities boosted their price target on shares of Cantaloupe from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Monday, November 11th.

Cantaloupe Trading Up 4.5 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.60 and a quick ratio of 1.03. The business’s 50 day moving average price is $9.17 and its 200-day moving average price is $8.39. The firm has a market capitalization of $813.84 million, a price-to-earnings ratio of 55.75 and a beta of 1.64.

Cantaloupe (NASDAQ:CTLP) last issued its earnings results on Thursday, February 6th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Cantaloupe had a net margin of 5.40% and a return on equity of 8.45%. During the same quarter last year, the company earned $0.04 EPS. Equities analysts forecast that Cantaloupe, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Cantaloupe by 3.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,719 shares of the technology company’s stock valued at $844,000 after purchasing an additional 2,792 shares in the last quarter. Rhumbline Advisers raised its stake in Cantaloupe by 4.1% during the fourth quarter. Rhumbline Advisers now owns 80,973 shares of the technology company’s stock worth $770,000 after purchasing an additional 3,221 shares during the period. New York State Common Retirement Fund raised its stake in Cantaloupe by 75.8% during the fourth quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company’s stock worth $75,000 after purchasing an additional 3,400 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Cantaloupe by 18.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,283 shares of the technology company’s stock worth $212,000 after acquiring an additional 3,462 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Cantaloupe in the third quarter worth $26,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.