Its Stock Has Paid Off Big Time For Cantaloupe Inc.

Cantaloupe Inc. (NASDAQ: CTLP) stock jumped 2.72% on Wednesday to $3.40 against a previous-day closing price of $3.31. With 0.22 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.37 million shares. During the session, the Information Technology Services company that operates in wider Technology sector, reached to the highest price of $3.5000 whereas the lowest price it dropped to was $3.2800. The 52-week range on CTLP shows that it touched its highest point at $9.46 and its lowest point at $2.77 during that stretch. It currently has a 1-year price target of $9.00. Beta for the stock currently stands at 1.85.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CTLP was down-trending over the past week, with a drop of -1.45%, but this was up by 3.98% over a month. Three-month performance dropped to -43.62% while six-month performance fell -32.81%. The stock lost -61.97% in the past year, while it has lost -61.71% so far this year. A look at the trailing 12-month EPS for CTLP yields -0.14 with Next year EPS estimates of 0.08. For the next quarter, that number is -0.01. This implies an EPS growth rate of 76.20% for this year and 500.00% for next year. EPS is expected to grow by 25.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 30.40%.

Float and Shares Shorts:

At present, 71.21 million CTLP shares are outstanding with a float of 65.33 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.97 million, which was 1.36% higher than short shares on Sep 14, 2022. In addition to Mr. Scott Matthew Stewart as the firm’s Chief Financial Officer, Mr. Ravi Venkatesan serves as its CEO, COO & Director.

Institutional Ownership:

Through their ownership of 75.82% of CTLP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 58.54% of CTLP, in contrast to 18.44% held by mutual funds. Shares owned by individuals account for 16.35%. As the largest shareholder in CTLP with 17.20% of the stake, Hudson Executive Capital LP holds 12,245,860 shares worth 12,245,860. A second-largest stockholder of CTLP, Ardsley Advisory Partners LP, holds 5,717,121 shares, controlling over 8.03% of the firm’s shares. Cowen & Co. LLC is the third largest shareholder in CTLP, holding 3,855,240 shares or 5.41% stake. With a 2.34% stake in CTLP, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,668,045 shares are owned by the mutual fund manager. The Wasatch Micro Cap Fund, which owns about 2.16% of CTLP stock, is the second-largest Mutual Fund holder. It holds 1,537,260 shares valued at 5.15 million. iShares Russell 2000 ETF holds 1.78% of the stake in CTLP, owning 1,265,904 shares worth 4.24 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CTLP since 4 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CTLP analysts setting a high price target of $10.00 and a low target of $8.00, the average target price over the next 12 months is $9.00. Based on these targets, CTLP could surge 194.12% to reach the target high and rise by 135.29% to reach the target low. Reaching the average price target will result in a growth of 164.71% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CTLP will report FY 2023 earnings on 08/22/2023. Analysts have provided yearly estimates in a range of $0.03 being high and -$0.06 being low. For CTLP, this leads to a yearly average estimate of -$0.02. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Cantaloupe Inc. surprised analysts by -$0.12 when it reported -$0.13 EPS against a consensus estimate of -$0.01. The surprise factor in the prior quarter was -$0.02. The average estimate for the next quarter is thus -$0.01.

Summary of Insider Activity:

Insiders traded CTLP stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 553,205 while 0 shares were sold.

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