Cantaloupe (NASDAQ:CTLP) Shares Gap Up - Here's Why

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $9.50, but opened at $10.85. Cantaloupe shares last traded at $10.96, with a volume of 829,985 shares.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CTLP. Barrington Research restated an "outperform" rating and set a $14.00 price objective on shares of Cantaloupe in a report on Wednesday, May 21st. Wall Street Zen cut Cantaloupe from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. William Blair lowered shares of Cantaloupe from an "outperform" rating to a "market perform" rating in a report on Monday. Finally, Benchmark increased their target price on Cantaloupe from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Cantaloupe presently has an average rating of "Moderate Buy" and a consensus price target of $12.50.

Cantaloupe Trading Up 15.2%

The firm's 50-day moving average price is $8.25 and its 200 day moving average price is $8.71. The company has a current ratio of 1.81, a quick ratio of 1.12 and a debt-to-equity ratio of 0.19. The company has a market cap of $799.62 million, a price-to-earnings ratio of 54.73 and a beta of 1.09.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last posted 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). The business had revenue of $75.43 million during the quarter, compared to analysts' expectations 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 expect that Cantaloupe, Inc. will post 0.32 EPS for the current year.

Hedge Funds Weigh In On Cantaloupe

Large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its stake in shares of Cantaloupe by 8,886.0% during 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 purchased a new stake in Cantaloupe in the fourth quarter worth about $40,000. Parkside Financial Bank & Trust purchased a new stake in Cantaloupe in the fourth quarter worth about $47,000. New York State Common Retirement Fund boosted its position in Cantaloupe by 75.8% during the 4th 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 purchased a new position in shares of Cantaloupe during the 4th quarter worth approximately $77,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

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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