Cantaloupe (NASDAQ:CTLP) Shares Down 9.2% – Here’s What Happened

Cantaloupe, Inc. (NASDAQ:CTLP)’s stock price traded down 9.2% during mid-day trading on Tuesday . The company traded as low as $7.61 and last traded at $7.75. 228,698 shares were traded during trading, a decline of 36% from the average session volume of 358,612 shares. The stock had previously closed at $8.53.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Benchmark boosted their price target on shares of Cantaloupe from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Barrington Research boosted their price target on shares of Cantaloupe from $12.00 to $14.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th.

Cantaloupe Price Performance

The company has a 50-day simple moving average of $9.18 and a 200-day simple moving average of $8.70. The stock has a market cap of $560.91 million, a PE ratio of 38.39 and a beta of 1.64. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.81 and a quick ratio of 1.12.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly earnings data on Thursday, February 6th. The technology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Cantaloupe had a return on equity of 8.36% and a net margin of 5.40%. During the same quarter last year, the company earned $0.04 EPS. Sell-side analysts anticipate that Cantaloupe, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Cantaloupe

Hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new stake in Cantaloupe during the 3rd quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Cantaloupe in the 4th quarter worth approximately $40,000. Parkside Financial Bank & Trust acquired a new position in Cantaloupe during the 4th quarter valued at approximately $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 purchasing an additional 3,400 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in Cantaloupe during the 4th quarter valued at approximately $77,000. 75.75% of the stock is currently 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.