Cantaloupe (NASDAQ:CTLP) Shares Up 6.2% - Here's Why

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) shares shot up 6.2% during trading on Thursday . The stock traded as high as $8.76 and last traded at $8.74. 300,898 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 436,148 shares. The stock had previously closed at $8.23.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CTLP. Wall Street Zen lowered Cantaloupe from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Benchmark boosted their target price on shares of Cantaloupe from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Finally, Barrington Research reissued an "outperform" rating and set a $14.00 target price on shares of Cantaloupe in a report on Wednesday, May 21st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $12.50.

Cantaloupe Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.81 and a quick ratio of 1.12. The company has a fifty day moving average price of $8.04 and a 200 day moving average price of $8.70. The company has a market capitalization of $649.49 million, a P/E ratio of 44.45 and a beta of 1.08.

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 analysts' consensus estimates of $0.10 by ($0.02). Cantaloupe had a return on equity of 8.36% and a net margin of 5.40%. The company had revenue of $75.43 million for the quarter, compared to the consensus estimate of $79.83 million. On average, sell-side analysts forecast that Cantaloupe, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in Cantaloupe by 600.1% in the fourth quarter. Janus Henderson Group PLC now owns 1,085,046 shares of the technology company's stock worth $10,303,000 after purchasing an additional 930,061 shares during the period. Nuveen LLC bought a new stake in shares of Cantaloupe during the 1st quarter worth about $5,624,000. Nuveen Asset Management LLC lifted its stake in shares of Cantaloupe by 102.7% in the 4th quarter. Nuveen Asset Management LLC now owns 900,201 shares of the technology company's stock worth $8,561,000 after acquiring an additional 456,199 shares during the period. Invesco Ltd. boosted its holdings in shares of Cantaloupe by 1,768.2% in the fourth quarter. Invesco Ltd. now owns 397,299 shares of the technology company's stock valued at $3,778,000 after acquiring an additional 376,033 shares in the last quarter. Finally, Royce & Associates LP boosted its holdings in shares of Cantaloupe by 99.6% in the fourth quarter. Royce & Associates LP now owns 563,000 shares of the technology company's stock valued at $5,354,000 after acquiring an additional 281,000 shares in the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

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.