Cantaloupe (NASDAQ:CTLP) Shares Down 4.8% – Time to Sell?

Cantaloupe, Inc. (NASDAQ:CTLP) traded down 4.8% on Wednesday . The stock traded as low as $8.94 and last traded at $8.94. Approximately 228,148 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 342,410 shares. The stock had previously closed at $9.39.

Wall Street Analysts Forecast Growth

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

Cantaloupe Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.60 and a quick ratio of 1.03. The firm has a market capitalization of $660.56 million, a PE ratio of 53.24 and a beta of 1.68. The company has a 50-day moving average price of $8.63 and a 200-day moving average price of $7.45.

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

Insider Activity at Cantaloupe

In other Cantaloupe news, CEO Ravi Venkatesan purchased 8,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was bought at an average cost of $6.30 per share, for a total transaction of $50,400.00. Following the acquisition, the chief executive officer now owns 136,658 shares of the company’s stock, valued at approximately $860,945.40. The trade was a 6.22 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Douglas Bergeron acquired 36,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were acquired at an average price of $7.41 per share, for a total transaction of $266,760.00. Following the acquisition, the director now directly 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 disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 57,866 shares of company stock valued at $416,302. Company insiders own 6.30% of the company’s stock.

Institutional Trading of Cantaloupe

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTLP. First Eagle Investment Management LLC acquired a new stake in shares of Cantaloupe in the second quarter worth approximately $2,276,000. Assenagon Asset Management S.A. acquired a new position in shares of Cantaloupe in the 2nd quarter valued at $89,000. GSA Capital Partners LLP acquired a new position in shares of Cantaloupe in the 3rd quarter valued at $153,000. Inspire Investing LLC purchased a new stake in shares of Cantaloupe during the 3rd quarter valued at $416,000. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Cantaloupe by 143.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 82,124 shares of the technology company’s stock worth $542,000 after buying an additional 48,356 shares during the last quarter. Hedge funds and other 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.