Cantaloupe (NASDAQ:CTLP) Sees Strong Trading Volume - Here's Why

Key Points

• Cantaloupe, Inc. experienced a significant **25% increase** in trading volume, with 1,394,466 shares traded during mid-day on Tuesday.
• Multiple research firms have downgraded Cantaloupe's stock ratings recently, with an average rating now classified as "**Hold**" and a target price of **$12.24**.
• Institutional investors own **75.75%** of Cantaloupe shares, with notable increases in holdings by firms like **JPMorgan Chase** and **Invesco** during the last quarter.

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 1,394,466 shares changed hands during mid-day trading, an increase of 25% from the previous session's volume of 1,112,266 shares.The stock last traded at $10.92 and had previously closed at $10.93.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. William Blair cut shares of Cantaloupe from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Craig Hallum cut shares of Cantaloupe from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Wall Street Zen downgraded shares of Cantaloupe from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Benchmark cut Cantaloupe from a "buy" rating to a "hold" rating in a report on Tuesday, June 17th. Finally, Barrington Research lowered Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, June 16th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Cantaloupe currently has a consensus rating of "Hold" and a consensus target price of $12.24.

Cantaloupe Price Performance

The stock has a market cap of $798.48 million, a price-to-earnings ratio of 13.79 and a beta of 1.18. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 0.15. The company's fifty day moving average is $10.99 and its two-hundred day moving average is $9.41.

Institutional Investors Weigh In On Cantaloupe

Several institutional investors and hedge funds have recently modified their holdings of CTLP. Farther Finance Advisors LLC boosted its holdings in Cantaloupe by 8,886.0% during the 1st quarter. Farther Finance Advisors LLC now owns 4,493 shares of the technology company's stock valued at $35,000 after acquiring an additional 4,443 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Cantaloupe by 55.6% during the second quarter. BNP Paribas Financial Markets now owns 5,772 shares of the technology company's stock worth $63,000 after purchasing an additional 2,063 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new position in Cantaloupe in the 2nd quarter valued at approximately $76,000. Bailard Inc. acquired a new position in Cantaloupe during the 1st quarter worth $87,000. Finally, Tower Research Capital LLC TRC increased its holdings in Cantaloupe by 41.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,940 shares of the technology company's stock worth $87,000 after purchasing an additional 2,315 shares during the period. Hedge funds and other institutional investors own 75.75% of the company's stock.

About Cantaloupe

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.