Cantaloupe (NASDAQ:CTLP) Sees Large Volume Increase - Here's Why

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 2,175,718 shares were traded during mid-day trading, an increase of 212% from the previous session's volume of 698,194 shares.The stock last traded at $11.13 and had previously closed at $11.09.

Wall Street Analyst Weigh In

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

Cantaloupe Price Performance

The firm has a market capitalization of $809.50 million, a price-to-earnings ratio of 14.03 and a beta of 1.17. The company's fifty day moving average price is $9.85 and its 200 day moving average price is $8.98. 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 issued its earnings results on Thursday, May 8th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). Cantaloupe had a net margin of 20.47% and a return on equity of 9.02%. The business had revenue of $75.43 million during the quarter, compared to the consensus estimate of $79.83 million. Equities research analysts expect that Cantaloupe, Inc. will post 0.32 earnings per share for the current year.

Institutional Trading of Cantaloupe

Large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in Cantaloupe by 8,886.0% in the 1st 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 in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Cantaloupe in the fourth quarter valued at about $40,000. BNP Paribas Financial Markets bought a new position in Cantaloupe in the fourth quarter worth about $77,000. Bailard Inc. acquired a new stake in shares of Cantaloupe in the first quarter valued at approximately $87,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Cantaloupe during the fourth quarter valued at approximately $91,000. Hedge funds and other 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.