Cantaloupe (NASDAQ:CTLP) Sees Unusually-High Trading Volume - Still a Buy?

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 1,443,297 shares traded hands during trading, an increase of 138% from the previous session's volume of 606,734 shares.The stock last traded at $11.01 and had previously closed at $10.99.

Analysts Set New Price Targets

A number of research analysts have weighed in on CTLP shares. B. Riley lowered Cantaloupe from a "buy" rating to a "neutral" rating and reduced their target price for the company from $11.50 to $11.20 in a report on Tuesday, June 17th. Barrington Research lowered Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a report on Monday, June 16th. William Blair lowered Cantaloupe from an "outperform" rating to a "market perform" rating in a report on Monday, June 16th. Benchmark lowered Cantaloupe from a "buy" rating to a "hold" rating in a report on Tuesday, June 17th. Finally, Wall Street Zen lowered Cantaloupe from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Cantaloupe currently has an average rating of "Hold" and an average target price of $12.24.

Cantaloupe Stock Up 0.2%

The stock has a 50-day moving average of $8.64 and a two-hundred day moving average of $8.79. The company has a market cap of $804.39 million, a P/E ratio of 13.94 and a beta of 1.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.22 and a current ratio of 1.79.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). The firm had revenue of $75.43 million during the quarter, compared to the consensus estimate of $79.83 million. Cantaloupe had a return on equity of 9.02% and a net margin of 20.47%. On average, research analysts anticipate that Cantaloupe, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Trading of Cantaloupe

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its position in Cantaloupe by 8,886.0% in the first quarter. Farther Finance Advisors LLC now owns 4,493 shares of the technology company's stock valued at $35,000 after purchasing an additional 4,443 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Cantaloupe during the fourth quarter valued at approximately $40,000. Parkside Financial Bank & Trust bought a new position in shares of Cantaloupe during the fourth quarter valued at approximately $47,000. New York State Common Retirement Fund raised its holdings in shares of Cantaloupe by 75.8% during the fourth quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company's stock valued at $75,000 after acquiring an additional 3,400 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Cantaloupe during the fourth quarter valued at approximately $77,000. Institutional investors own 75.75% of the company's stock.

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.