Cantaloupe (NASDAQ:CTLP) Sees Large Volume Increase - Time to Buy?

Key Points

• Cantaloupe, Inc. (NASDAQ:CTLP) experienced a significant trading volume increase of 97%, with approximately 2,070,842 shares traded on Friday.
• Multiple analysts have downgraded Cantaloupe's rating recently, with B. Riley lowering its price target from $11.50 to $11.20 and Barrington Research changing its rating from "strong-buy" to "strong sell."
• The company reported earnings of $0.08 per share for the last quarter, missing estimates, with total revenue of $75.43 million compared to an expected $79.83 million.

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) saw unusually-high trading volume on Friday . Approximately 2,070,842 shares traded hands during trading, an increase of 97% from the previous session's volume of 1,049,202 shares.The stock last traded at $10.97 and had previously closed at $11.08.

Wall Street Analyst Weigh In

CTLP has been the subject of a number of research reports. B. Riley downgraded Cantaloupe from a "buy" rating to a "neutral" rating and lowered their price target for the company from $11.50 to $11.20 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 note on Monday, June 16th. Benchmark cut Cantaloupe from a "buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Northland Capmk cut Cantaloupe from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Finally, William Blair cut Cantaloupe from an "outperform" rating to a "market perform" rating in a research note on Monday, June 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $12.24.

Cantaloupe Stock Performance

The firm has a market cap of $800.69 million, a price-to-earnings ratio of 13.83 and a beta of 1.18. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $10.61 and a 200 day moving average of $9.22.

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

Institutional Trading of Cantaloupe

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Cantaloupe by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 3,553,862 shares of the technology company's stock worth $27,969,000 after purchasing an additional 14,747 shares during the period. Deutsche Bank AG raised its position in shares of Cantaloupe by 0.7% during the 4th quarter. Deutsche Bank AG now owns 2,966,050 shares of the technology company's stock worth $28,207,000 after purchasing an additional 20,314 shares during the period. Geode Capital Management LLC raised its position in shares of Cantaloupe by 17.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,637,446 shares of the technology company's stock worth $17,997,000 after purchasing an additional 244,659 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Cantaloupe by 5.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,231,728 shares of the technology company's stock worth $11,714,000 after purchasing an additional 68,546 shares during the period. Finally, Alpine Associates Management Inc. acquired a new stake in shares of Cantaloupe during the 2nd quarter worth approximately $12,053,000. Institutional investors and hedge funds 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.

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