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

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

Wall Street Analysts Forecast Growth

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

Cantaloupe Stock Down 3.6 %

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

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

Insider Activity at Cantaloupe

In other Cantaloupe news, CEO Ravi Venkatesan acquired 8,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $6.30 per share, with a total value of $50,400.00. Following the purchase, the chief executive officer now directly owns 136,658 shares of the company’s stock, valued at approximately $860,945.40. This represents a 6.22 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Douglas Bergeron acquired 36,000 shares of the company’s stock in a transaction on Monday, September 30th. The stock was acquired at an average cost of $7.41 per share, with a total value of $266,760.00. Following the completion of the purchase, the director now directly owns 462,319 shares in the company, valued at approximately $3,425,783.79. This represents a 8.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 57,866 shares of company stock valued at $416,302. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Cantaloupe

A number of institutional investors and hedge funds have recently made changes to their positions in CTLP. Quarry LP purchased a new position in shares of Cantaloupe in the 3rd quarter worth $26,000. Assenagon Asset Management S.A. purchased a new position in shares of Cantaloupe in the 2nd quarter worth $89,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cantaloupe by 23.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,109 shares of the technology company’s stock worth $111,000 after acquiring an additional 3,197 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of Cantaloupe by 34.0% in the 3rd quarter. Quantbot Technologies LP now owns 15,664 shares of the technology company’s stock worth $116,000 after acquiring an additional 3,975 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Cantaloupe in the 3rd quarter worth about $119,000. 75.75% of the stock is owned by hedge funds and other 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.