Cantaloupe (NASDAQ:CTLP) Trading 4.2% Higher – Here’s What Happened

Cantaloupe, Inc. (NASDAQ:CTLP) traded up 4.2% during trading on Monday . The stock traded as high as $7.88 and last traded at $7.89. 199,155 shares were traded during trading, a decline of 47% from the average session volume of 377,269 shares. The stock had previously closed at $7.57.

Wall Street Analysts Forecast Growth

CTLP has been the subject of a number of recent analyst reports. Benchmark increased their price target 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. Barrington Research reiterated an “outperform” rating and issued a $14.00 target price on shares of Cantaloupe in a research note on Thursday.

Cantaloupe Trading Up 4.0 %

The firm’s 50-day moving average is $8.99 and its 200 day moving average is $8.81. The firm has a market capitalization of $574.79 million, a price-to-earnings ratio of 39.35 and a beta of 1.64. The company has a current ratio of 1.81, a quick ratio of 1.12 and a debt-to-equity ratio of 0.19.

Cantaloupe (NASDAQ:CTLP) last issued its quarterly earnings results 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 net margin of 5.40% and a return on equity of 8.36%. During the same quarter in the previous year, the company earned $0.04 EPS. On average, equities analysts predict that Cantaloupe, Inc. will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cantaloupe

Several large investors have recently bought and sold shares of CTLP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Cantaloupe by 3.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,719 shares of the technology company’s stock valued at $844,000 after purchasing an additional 2,792 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Cantaloupe by 4.1% in the 4th quarter. Rhumbline Advisers now owns 80,973 shares of the technology company’s stock worth $770,000 after buying an additional 3,221 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Cantaloupe by 75.8% during the fourth quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company’s stock valued at $75,000 after acquiring an additional 3,400 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Cantaloupe by 18.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,283 shares of the technology company’s stock worth $212,000 after acquiring an additional 3,462 shares during the period. Finally, Quarry LP bought a new position in Cantaloupe in the 3rd quarter valued at $26,000. 75.75% of the stock is currently owned by 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.