Cantaloupe (NASDAQ:CTLP) Trading Down 5.3% – Here’s What Happened

Shares of Cantaloupe, Inc. (NASDAQ:CTLP) were down 5.3% on Thursday . The company traded as low as $9.31 and last traded at $9.32. Approximately 133,849 shares were traded during trading, a decline of 61% from the average daily volume of 344,535 shares. The stock had previously closed at $9.84.

Analyst Ratings Changes

A number of analysts recently weighed in on CTLP shares. Northland Securities upped their target price on shares of Cantaloupe from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Benchmark upped their target price on shares of Cantaloupe from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Craig Hallum cut their target price on shares of Cantaloupe from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, Barrington Research reiterated an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a research note on Monday, November 4th.

Cantaloupe Stock Performance

The company has a market cap of $680.96 million, a PE ratio of 54.89 and a beta of 1.66. The stock has a 50 day simple moving average of $9.17 and a two-hundred day simple moving average of $7.72. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.60 and a quick ratio of 1.03.

Cantaloupe (NASDAQ:CTLP) last released its quarterly earnings results on Thursday, November 7th. The technology company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. Cantaloupe had a net margin of 4.90% and a return on equity of 7.53%. The firm had revenue of $70.84 million during the quarter, compared to the consensus estimate of $70.54 million. During the same quarter in the prior year, the firm earned $0.02 EPS. Equities analysts predict that Cantaloupe, Inc. will post 0.32 EPS for the current year.

Insider Buying and Selling

In other news, Director Douglas Bergeron bought 36,000 shares of Cantaloupe stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $7.41 per share, for a total transaction of $266,760.00. Following the purchase, the director now owns 462,319 shares of the company’s stock, valued at approximately $3,425,783.79. The trade was a 8.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CTLP. Quarry LP purchased a new position in Cantaloupe in the third quarter worth $26,000. Assenagon Asset Management S.A. purchased a new position in Cantaloupe in the 2nd quarter valued at approximately $89,000. Quantbot Technologies LP increased its position in shares of Cantaloupe by 34.0% in the third quarter. Quantbot Technologies LP now owns 15,664 shares of the technology company’s stock valued at $116,000 after buying an additional 3,975 shares in the last quarter. Intech Investment Management LLC purchased a new position in Cantaloupe during the 3rd quarter valued at about $119,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Cantaloupe by 68.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,075 shares of the technology company’s stock worth $152,000 after purchasing an additional 9,374 shares during the last quarter. 75.75% of the stock is currently 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.