Cantaloupe (NASDAQ:CTLP) Sees Large Volume Increase - What's Next?

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) saw strong trading volume on Tuesday . 365,438 shares changed hands during trading, a decline of 35% from the previous session's volume of 561,205 shares.The stock last traded at $10.99 and had previously closed at $10.99.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CTLP. Barrington Research downgraded Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a research note on Monday. William Blair cut Cantaloupe from an "outperform" rating to a "market perform" rating in a report on Monday. B. Riley downgraded 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. Benchmark restated a "hold" rating on shares of Cantaloupe in a research report on Tuesday. Finally, Wall Street Zen lowered shares of Cantaloupe from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $12.24.

Cantaloupe Stock Down 0.2%

The company has a market capitalization of $801.08 million, a price-to-earnings ratio of 54.83 and a beta of 1.09. The business has a 50-day simple moving average of $8.32 and a two-hundred day simple moving average of $8.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.12 and a current ratio of 1.81.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last issued its earnings results 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). The company had revenue of $75.43 million for the quarter, compared to analyst estimates of $79.83 million. Cantaloupe had a return on equity of 8.36% and a net margin of 5.40%. As a group, equities analysts predict that Cantaloupe, Inc. will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Inspire Investing LLC grew its holdings in Cantaloupe by 3.5% in the 1st quarter. Inspire Investing LLC now owns 43,167 shares of the technology company's stock valued at $340,000 after buying an additional 1,470 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cantaloupe by 5.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,263 shares of the technology company's stock worth $238,000 after acquiring an additional 1,622 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Cantaloupe by 3.4% in the first quarter. Rhumbline Advisers now owns 83,698 shares of the technology company's stock valued at $659,000 after purchasing an additional 2,725 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cantaloupe by 3.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,719 shares of the technology company's stock valued at $844,000 after acquiring an additional 2,792 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its position in shares of Cantaloupe by 6.1% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 55,992 shares of the technology company's stock valued at $441,000 after purchasing an additional 3,200 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.

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