Cantaloupe (NASDAQ:CTLP) Stock Price Down 5.6% - What's Next?

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report)'s stock price was down 5.6% during mid-day trading on Tuesday . The stock traded as low as $8.11 and last traded at $8.27. Approximately 261,867 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 425,106 shares. The stock had previously closed at $8.76.

Analysts Set New Price Targets

A number of analysts have issued reports on CTLP shares. Benchmark raised their target price on Cantaloupe from $11.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Wall Street Zen cut shares of Cantaloupe from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Barrington Research reaffirmed an "outperform" rating and set a $14.00 target price on shares of Cantaloupe in a research note on Wednesday, May 21st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cantaloupe currently has an average rating of "Buy" and a consensus target price of $12.50.

Cantaloupe Trading Down 5.9%

The firm has a market cap of $601.27 million, a price-to-earnings ratio of 41.15 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.12 and a current ratio of 1.81. The company has a 50 day moving average price of $8.00 and a 200 day moving average price of $8.70.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The technology company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). The company had revenue of $75.43 million during 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%. On average, research analysts expect that Cantaloupe, Inc. will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On Cantaloupe

Several institutional investors and hedge funds have recently modified their holdings of the company. Inspire Investing LLC grew its position 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 acquiring an additional 1,470 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cantaloupe by 5.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,263 shares of the technology company's stock valued at $238,000 after purchasing an additional 1,622 shares in the last quarter. Rhumbline Advisers increased its stake in Cantaloupe by 3.4% during the 1st quarter. Rhumbline Advisers now owns 83,698 shares of the technology company's stock worth $659,000 after buying an additional 2,725 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Cantaloupe by 3.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,719 shares of the technology company's stock worth $844,000 after buying an additional 2,792 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its position in 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 buying an additional 3,200 shares during the period. Hedge funds and other institutional investors own 75.75% of the company's stock.

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.