Cantaloupe (NASDAQ:CTLP) Shares Down 9.2% – Here’s Why

Cantaloupe, Inc. (NASDAQ:CTLP) shares dropped 9.2% during mid-day trading on Tuesday . The company traded as low as $7.61 and last traded at $7.75. Approximately 228,698 shares traded hands during trading, a decline of 36% from the average daily volume of 358,612 shares. The stock had previously closed at $8.53.

Analyst Ratings Changes

Several brokerages have weighed in on CTLP. Barrington Research upped their target price on Cantaloupe from $12.00 to $14.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Benchmark boosted their price target on Cantaloupe from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th.

Cantaloupe Stock Down 1.3 %

The company has a current ratio of 1.81, a quick ratio of 1.12 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $560.91 million, a PE ratio of 38.39 and a beta of 1.64. The business’s 50-day simple moving average is $9.18 and its 200-day simple moving average is $8.70.

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, 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 period in the previous year, the company posted $0.04 EPS. As a group, equities research analysts anticipate that Cantaloupe, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cantaloupe by 3.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,719 shares of the technology company’s stock worth $844,000 after acquiring an additional 2,792 shares during the period. Rhumbline Advisers raised its holdings in Cantaloupe by 4.1% in the 4th quarter. Rhumbline Advisers now owns 80,973 shares of the technology company’s stock valued at $770,000 after buying an additional 3,221 shares during the period. New York State Common Retirement Fund raised its holdings in Cantaloupe by 75.8% in the 4th quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company’s stock valued at $75,000 after buying an additional 3,400 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Cantaloupe by 18.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,283 shares of the technology company’s stock valued at $212,000 after buying an additional 3,462 shares during the period. Finally, Quarry LP purchased a new stake in Cantaloupe in the 3rd quarter valued at about $26,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

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.