Cantaloupe (NASDAQ:CTLP) Sees Strong Trading Volume - What's Next?

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.

Shares of 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.

Wall Street Analyst Weigh In

A number of research firms have commented on CTLP. Barrington Research lowered Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, June 16th. B. Riley lowered Cantaloupe from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $11.50 to $11.20 in a research report on Tuesday, June 17th. Benchmark lowered Cantaloupe from a "buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Wall Street Zen downgraded Cantaloupe from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, Northland Capmk downgraded Cantaloupe from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $12.24.

Cantaloupe Stock Down 0.1%

The company has a 50-day moving average price of $11.01 and a 200 day moving average price of $9.43. The firm has a market capitalization of $796.66 million, a PE ratio of 13.76 and a beta of 1.18. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.79 and a quick ratio of 1.22.

Institutional Investors Weigh In On Cantaloupe

Several large investors have recently made changes to their positions in CTLP. Magnetar Financial LLC increased its holdings in shares of Cantaloupe by 10,162.7% in the second quarter. Magnetar Financial LLC now owns 3,257,595 shares of the technology company's stock worth $35,801,000 after purchasing an additional 3,225,853 shares during the last quarter. Beryl Capital Management LLC bought a new stake in Cantaloupe during the second quarter worth approximately $27,709,000. Alliancebernstein L.P. increased its stake in Cantaloupe by 3,808.0% during the second quarter. Alliancebernstein L.P. now owns 1,740,226 shares of the technology company's stock worth $19,125,000 after acquiring an additional 1,695,696 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its stake in Cantaloupe by 60.1% during the second quarter. Disciplined Growth Investors Inc. MN now owns 3,173,351 shares of the technology company's stock worth $34,875,000 after acquiring an additional 1,191,748 shares during the last quarter. Finally, Alpine Associates Management Inc. bought a new stake in Cantaloupe during the second quarter worth approximately $12,053,000. 75.75% of the stock is owned by institutional investors.

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.