Cantaloupe (CTLP) Expected to Announce Quarterly Earnings on Tuesday

Key Points

• Cantaloupe (CTLP) is expected to announce its quarterly earnings on Tuesday, September 30th, with analysts predicting earnings of $0.11 per share and revenue of $82.44 million.
• Cantaloupe shares have traded down 0.1%, currently valued at $10.58, with a market capitalization of approximately $775.89 million.
• Recent analyst downgrades have led to the stock being rated mainly as a Hold, with one Buy and six Hold/Sell ratings, signaling cautious sentiment among market analysts.

Cantaloupe (NASDAQ:CTLP - Get Free Report) is anticipated to release its results before the market opens on Tuesday, September 30th. Analysts expect Cantaloupe to post earnings of $0.11 per share and revenue of $82.4440 million for the quarter.

Cantaloupe Trading Down 0.1%

Shares of NASDAQ CTLP traded down $0.02 during trading on Wednesday, hitting $10.58. 55,984 shares of the company were exchanged, compared to its average volume of 1,267,495. Cantaloupe has a 12-month low of $7.01 and a 12-month high of $11.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 1.86. The company has a fifty day moving average price of $10.92 and a 200-day moving average price of $9.52. The firm has a market capitalization of $775.89 million, a PE ratio of 13.39 and a beta of 1.09.

Insiders Place Their Bets

In other Cantaloupe news, CTO Gaurav Singal sold 200,000 shares of Cantaloupe stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $10.63, for a total transaction of $2,126,000.00. Following the sale, the chief technology officer owned 40,533 shares of the company's stock, valued at $430,865.79. The trade was a 83.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Cantaloupe

A number of hedge funds have recently modified their holdings of CTLP. Osaic Holdings Inc. grew its holdings in shares of Cantaloupe by 136.2% during the second quarter. Osaic Holdings Inc. now owns 4,746 shares of the technology company's stock valued at $52,000 after buying an additional 2,737 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Cantaloupe by 55.6% in the second quarter. BNP Paribas Financial Markets now owns 5,772 shares of the technology company's stock valued at $63,000 after purchasing an additional 2,063 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Cantaloupe by 41.2% in the second quarter. Tower Research Capital LLC TRC now owns 7,940 shares of the technology company's stock valued at $87,000 after purchasing an additional 2,315 shares in the last quarter. Gamco Investors INC. ET AL purchased a new position in Cantaloupe in the second quarter valued at about $110,000. Finally, Walleye Capital LLC purchased a new position in Cantaloupe in the second quarter valued at about $160,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. B. Riley cut Cantaloupe from a "buy" rating to a "neutral" rating and cut their price target for the stock from $11.50 to $11.20 in a research note on Tuesday, June 17th. Northland Capmk cut Cantaloupe from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Benchmark cut Cantaloupe from a "buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Barrington Research cut Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, June 16th. Finally, William Blair cut Cantaloupe from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $12.55.

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.

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