Cantaloupe (NASDAQ:CTLP) Sees Unusually-High Trading Volume – Here’s What Happened

Cantaloupe, Inc. (NASDAQ:CTLP) shares saw strong trading volume on Tuesday . 614,268 shares were traded during trading, an increase of 94% from the previous session’s volume of 316,003 shares.The stock last traded at $10.40 and had previously closed at $9.93.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CTLP shares. Barrington Research restated an “outperform” rating and issued a $12.00 price objective on shares of Cantaloupe in a research report on Monday, February 3rd. Benchmark lifted their price objective on shares of Cantaloupe from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Northland Securities increased their target price 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.

Cantaloupe Stock Up 5.4 %

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 company has a market cap of $763.84 million, a PE ratio of 52.50 and a beta of 1.64. The business’s 50 day moving average is $8.97 and its 200-day moving average is $8.26.

Cantaloupe (NASDAQ:CTLP) last released its quarterly earnings results on Thursday, February 6th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Cantaloupe had a return on equity of 8.45% and a net margin of 5.40%. During the same quarter in the prior year, the firm posted $0.04 EPS. As a group, analysts predict that Cantaloupe, Inc. will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CTLP. Wasatch Advisors LP increased its stake in shares of Cantaloupe by 20.3% during the 3rd quarter. Wasatch Advisors LP now owns 1,613,057 shares of the technology company’s stock valued at $11,937,000 after acquiring an additional 271,782 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its position in shares of Cantaloupe by 0.4% in 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 buying an additional 7,114 shares during the period. Geode Capital Management LLC grew 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 acquiring an additional 46,518 shares during the period. State Street Corp grew 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 acquiring an additional 29,460 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in Cantaloupe by 8.9% during the fourth quarter. First Eagle Investment Management LLC now owns 602,197 shares of the technology company’s stock worth $5,727,000 after acquiring an additional 49,000 shares during the last quarter. Institutional investors and hedge funds 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.