Cantaloupe (NASDAQ:CTLP) Stock Price Down 4.8% – Should You Sell?

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

Wall Street Analyst Weigh In

CTLP has been the subject of several recent analyst reports. Craig Hallum lowered 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. Benchmark upped their price objective on shares of Cantaloupe from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Cantaloupe in a research note on Monday, November 4th. Finally, Northland Securities upped their price objective on shares of Cantaloupe from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Monday, November 11th.

Cantaloupe Price Performance

The company has a quick ratio of 1.03, a current ratio of 1.60 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average is $8.57 and its 200-day moving average is $7.44. The company has a market cap of $660.56 million, a PE ratio of 53.24 and a beta of 1.68.

Cantaloupe (NASDAQ:CTLP) last announced 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 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 analysts’ expectations of $70.54 million. During the same quarter in the previous year, the company earned $0.02 earnings per share. On average, equities analysts anticipate that Cantaloupe, Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In other Cantaloupe news, CEO Ravi Venkatesan acquired 8,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $6.30 per share, for a total transaction of $50,400.00. Following the completion of the acquisition, the chief executive officer now owns 136,658 shares in the company, valued at $860,945.40. This trade represents a 6.22 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas Bergeron purchased 36,000 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average price of $7.41 per share, for a total transaction of $266,760.00. Following the acquisition, the director now 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 quarter, insiders have acquired 57,866 shares of company stock worth $416,302. 6.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP lifted its position in Cantaloupe by 20.3% during the third quarter. Wasatch Advisors LP now owns 1,613,057 shares of the technology company’s stock valued at $11,937,000 after purchasing an additional 271,782 shares during the period. Disciplined Growth Investors Inc. MN lifted its position in Cantaloupe by 0.4% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,608,375 shares of the technology company’s stock valued at $11,902,000 after purchasing an additional 7,114 shares during the period. Geode Capital Management LLC lifted its position in Cantaloupe by 3.5% during the third quarter. Geode Capital Management LLC now owns 1,366,034 shares of the technology company’s stock valued at $10,111,000 after purchasing an additional 46,518 shares during the period. State Street Corp lifted its position in Cantaloupe by 2.4% during 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 during the period. 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 valued at $3,518,000 after purchasing an additional 21,938 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.