Cantaloupe (NASDAQ:CTLP) Shares Down 5.3% – What’s Next?

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Benchmark lifted their price target on Cantaloupe from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $10.00 target price on shares of Cantaloupe in a research note on Monday, November 4th. Northland Securities increased their price target 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. Finally, Craig Hallum reduced their price objective on shares of Cantaloupe from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th.

Cantaloupe Trading Up 2.9 %

The firm has a market capitalization of $699.21 million, a P/E ratio of 56.36 and a beta of 1.66. The company has a current ratio of 1.60, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19. The company’s fifty day moving average is $9.19 and its 200-day moving average is $7.75.

Cantaloupe (NASDAQ:CTLP) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Cantaloupe had a return on equity of 7.53% and a net margin of 4.90%. The company had revenue of $70.84 million for the quarter, compared to the consensus estimate of $70.54 million. During the same period last year, the business posted $0.02 earnings per share. As a group, sell-side analysts anticipate that Cantaloupe, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity at Cantaloupe

In other news, Director Douglas Bergeron bought 36,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average cost of $7.41 per share, with a total value of $266,760.00. Following the completion of the transaction, the director now directly owns 462,319 shares in the company, valued at $3,425,783.79. This represents a 8.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Institutional Trading of Cantaloupe

A number of hedge funds have recently modified their holdings of CTLP. Virtu Financial LLC acquired a new position in shares of Cantaloupe in the third quarter valued at $156,000. Barclays PLC raised its stake in shares of Cantaloupe by 272.2% in the 3rd quarter. Barclays PLC now owns 113,920 shares of the technology company’s stock valued at $843,000 after buying an additional 83,316 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cantaloupe by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,366,034 shares of the technology company’s stock worth $10,111,000 after acquiring an additional 46,518 shares during the period. Disciplined Growth Investors Inc. MN boosted its position in shares of Cantaloupe by 0.4% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,608,375 shares of the technology company’s stock valued at $11,902,000 after acquiring an additional 7,114 shares in the last quarter. Finally, XTX Topco Ltd increased its stake in Cantaloupe by 98.4% in the third quarter. XTX Topco Ltd now owns 34,350 shares of the technology company’s stock valued at $254,000 after acquiring an additional 17,040 shares during the period. 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.