Cantaloupe Inc. (NASDAQ: CTLP) stock jumped 3.21% on Friday to $6.76 against a previous-day closing price of $6.55. With 0.81 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.33 million shares. During the session, the Information Technology Services company that operates in wider Technology sector, reached to the highest price of $6.87 whereas the lowest price it dropped to was $6.57. The 52-week range on CTLP shows that it touched its highest point at $8.28 and its lowest point at $2.77 during that stretch. It currently has a 1-year price target of $10.88. Beta for the stock currently stands at 1.79.
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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 up-trending over the past week, with a rise of 2.81%, but this was down by -6.24% over a month. Three-month performance dropped to -9.99% while six-month performance rose 22.69%. The stock gained 51.57% in the past year, while it has gained 55.40% so far this year. A look at the trailing 12-month EPS for CTLP yields -0.00 with Next year EPS estimates of 0.27. For the next quarter, that number is 0.01. This implies an EPS growth rate of 76.20% for this year and 119.67% 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, 72.49 million CTLP shares are outstanding with a float of 66.66 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.57 million, which was 2.16% higher than short shares on Jul 30, 2023. In addition to Mr. Ravi Venkatesan as the firm’s CEO, Pres & Director, Mr. Scott Matthew Stewart serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 74.11% of CTLP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.01% of CTLP, in contrast to 21.72% held by mutual funds. Shares owned by individuals account for 18.38%. As the largest shareholder in CTLP with 16.89% of the stake, Hudson Executive Capital LP holds 12,245,860 shares worth 12,245,860. A second-largest stockholder of CTLP, Abrams Capital Management LP, holds 7,180,000 shares, controlling over 9.90% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in CTLP, holding 3,667,585 shares or 5.06% stake. With a 2.82% stake in CTLP, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,042,575 shares are owned by the mutual fund manager. The DWS Small Cap Core Fund, which owns about 2.41% of CTLP stock, is the second-largest Mutual Fund holder. It holds 1,750,000 shares valued at 13.86 million. Wasatch Micro Cap Fund holds 2.07% of the stake in CTLP, owning 1,499,417 shares worth 11.88 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, CTLP reported revenue of $58.03M and operating income of -$883.00k. The EBITDA in the recently reported quarter was $657.00k and diluted EPS was -$0.03.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CTLP since 0 analysts follow the stock currently. 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 $13.00 and a low target of $10.00, the average target price over the next 12 months is $10.88. Based on these targets, CTLP could surge 92.31% to reach the target high and rise by 47.93% to reach the target low. Reaching the average price target will result in a growth of 60.95% 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.
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 14 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 162,609 while 0 shares were sold.
