Cantaloupe (NASDAQ:CTLP) Trading Up 4.2% – Still a Buy?

Cantaloupe, Inc. (NASDAQ:CTLP) shares shot up 4.2% during mid-day trading on Monday . The stock traded as high as $7.88 and last traded at $7.89. 199,155 shares were traded during mid-day trading, a decline of 47% from the average session volume of 377,269 shares. The stock had previously closed at $7.57.

Wall Street Analysts Forecast Growth

CTLP has been the subject of a number of research reports. Benchmark increased their target price on shares of Cantaloupe from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Barrington Research reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Cantaloupe in a report on Thursday.

Cantaloupe Stock Up 4.0 %

The stock has a fifty day simple moving average of $8.99 and a two-hundred day simple moving average of $8.81. The firm has a market cap of $574.79 million, a PE ratio of 39.35 and a beta of 1.64. The company has a current ratio of 1.81, a quick ratio of 1.12 and a debt-to-equity ratio of 0.19.

Cantaloupe (NASDAQ:CTLP) last issued its quarterly earnings data on Thursday, February 6th. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. Cantaloupe had a net margin of 5.40% and a return on equity of 8.36%. During the same quarter in the previous year, the company earned $0.04 earnings per share. As a group, sell-side analysts expect that Cantaloupe, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quarry LP bought a new stake in Cantaloupe during the third quarter valued at $26,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Cantaloupe during the 4th quarter valued at about $40,000. Parkside Financial Bank & Trust purchased a new position in shares of Cantaloupe during the fourth quarter worth about $47,000. New York State Common Retirement Fund increased its position in shares of Cantaloupe by 75.8% in 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 last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Cantaloupe in the fourth quarter worth approximately $77,000. Institutional investors own 75.75% of the company’s stock.

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.