Short Interest in Cantaloupe, Inc. (NASDAQ:CTLP) Expands By 11.6%

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 2,510,000 shares, an increase of 11.6% from the September 15th total of 2,250,000 shares. Based on an average daily volume of 368,200 shares, the short-interest ratio is presently 6.8 days. Approximately 3.7% of the shares of the stock are short sold.

Insiders Place Their Bets

In related news, Director Douglas Bergeron acquired 13,866 shares of the firm's stock in a transaction dated Thursday, September 26th. The shares were purchased at an average price of $7.15 per share, for a total transaction of $99,141.90. Following the completion of the acquisition, the director now owns 192,185 shares in the company, valued at approximately $1,374,122.75. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Ravi Venkatesan acquired 8,000 shares of the firm's stock in a transaction dated Friday, September 13th. The shares were purchased at an average price of $6.30 per share, for a total transaction of $50,400.00. Following the completion of the acquisition, the chief executive officer now owns 136,658 shares in the company, valued at approximately $860,945.40. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Douglas Bergeron acquired 13,866 shares of the firm's stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $7.15 per share, for a total transaction of $99,141.90. Following the acquisition, the director now owns 192,185 shares of the company's stock, valued at approximately $1,374,122.75. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 57,866 shares of company stock valued at $416,302 over the last 90 days. Insiders own 4.30% of the company's stock.

Institutional Trading of Cantaloupe

Hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. bought a new stake in shares of Cantaloupe in the 2nd quarter worth approximately $89,000. Price T Rowe Associates Inc. MD boosted its position in shares of Cantaloupe by 23.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,109 shares of the technology company's stock worth $111,000 after purchasing an additional 3,197 shares in the last quarter. SG Americas Securities LLC bought a new position in Cantaloupe in the 3rd quarter valued at approximately $164,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cantaloupe by 68.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,075 shares of the technology company's stock valued at $152,000 after acquiring an additional 9,374 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Cantaloupe by 15.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company's stock valued at $159,000 after acquiring an additional 3,210 shares in the last quarter. 75.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barrington Research restated an "outperform" rating and set a $10.00 price target on shares of Cantaloupe in a report on Friday, September 13th. Northland Securities restated an "outperform" rating and set a $10.00 price target on shares of Cantaloupe in a report on Friday, July 12th. Craig Hallum reduced their price target on Cantaloupe from $13.00 to $11.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Finally, Benchmark restated a "buy" rating and set a $10.00 price target on shares of Cantaloupe in a report on Wednesday, September 11th.

Cantaloupe Stock Down 1.2 %

Shares of CTLP stock traded down $0.11 during midday trading on Thursday, reaching $9.13. 276,768 shares of the stock were exchanged, compared to its average volume of 332,255. Cantaloupe has a 1 year low of $5.74 and a 1 year high of $9.31. The company's 50 day moving average is $7.22 and its two-hundred day moving average is $6.85. The company has a current ratio of 1.49, a quick ratio of 1.10 and a debt-to-equity ratio of 0.20. The firm has a market cap of $664.76 million, a PE ratio of 57.06 and a beta of 1.71.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last posted its earnings results on Tuesday, September 10th. The technology company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). Cantaloupe had a return on equity of 6.83% and a net margin of 4.47%. The firm had revenue of $72.66 million for the quarter, compared to analysts' expectations of $76.14 million. During the same quarter last year, the company posted $0.04 EPS. On average, equities research analysts predict that Cantaloupe will post 0.31 EPS for the current year.

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.