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

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

Analysts Set New Price Targets

CTLP has been the subject of a number of recent analyst reports. Benchmark increased their target price on shares of Cantaloupe from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Craig Hallum cut their price target on Cantaloupe from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Barrington Research reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of Cantaloupe in a research note on Monday, November 4th. Finally, Northland Securities boosted their target price on Cantaloupe from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th.

Cantaloupe Stock Performance

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

Cantaloupe (NASDAQ:CTLP) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $70.84 million during the quarter, compared to analysts’ expectations of $70.54 million. Cantaloupe had a return on equity of 7.53% and a net margin of 4.90%. During the same quarter last year, the company earned $0.02 EPS. On average, research analysts anticipate that Cantaloupe, Inc. will post 0.32 EPS for the current year.

Insider Transactions at Cantaloupe

In related news, Director Douglas Bergeron acquired 36,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was purchased at an average cost of $7.41 per share, for a total transaction of $266,760.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cantaloupe

Several institutional investors and hedge funds have recently modified their holdings of CTLP. Wasatch Advisors LP increased its stake in Cantaloupe by 20.3% during the 3rd quarter. Wasatch Advisors LP now owns 1,613,057 shares of the technology company’s stock worth $11,937,000 after acquiring an additional 271,782 shares during the period. Disciplined Growth Investors Inc. MN grew its holdings 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 worth $11,902,000 after purchasing an additional 7,114 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cantaloupe by 3.5% in the third quarter. Geode Capital Management LLC now owns 1,366,034 shares of the technology company’s stock worth $10,111,000 after purchasing an additional 46,518 shares during the period. State Street Corp raised its stake in Cantaloupe by 2.4% in the third quarter. State Street Corp now owns 1,237,888 shares of the technology company’s stock valued at $9,160,000 after purchasing an additional 29,460 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Cantaloupe by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the technology company’s stock worth $3,518,000 after purchasing an additional 21,938 shares during the period. 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.