Cantaloupe (NASDAQ:CTLP) Sees Large Volume Increase – Here’s Why

Shares of Cantaloupe, Inc. (NASDAQ:CTLP) saw unusually-strong trading volume on Monday . Approximately 1,443,297 shares changed hands during trading, an increase of 138% from the previous session’s volume of 606,734 shares.The stock last traded at $11.01 and had previously closed at $10.99.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barrington Research cut shares of Cantaloupe from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, June 16th. Craig Hallum lowered Cantaloupe from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 17th. Wall Street Zen lowered Cantaloupe from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Northland Capmk downgraded shares of Cantaloupe from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 17th. Finally, William Blair downgraded shares of Cantaloupe from an “outperform” rating to a “market perform” rating in a report on Monday, June 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.24.

Cantaloupe Trading Up 0.0%

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.79 and a quick ratio of 1.22. The company has a market cap of $803.29 million, a PE ratio of 13.92 and a beta of 1.09. The company’s 50 day simple moving average is $8.58 and its two-hundred day simple moving average is $8.77.

Cantaloupe (NASDAQ:CTLP) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). Cantaloupe had a return on equity of 9.02% and a net margin of 20.47%. The firm had revenue of $75.43 million for the quarter, compared to analysts’ expectations of $79.83 million. As a group, sell-side analysts anticipate that Cantaloupe, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Cantaloupe

Several institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC grew its position in Cantaloupe by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 16,449 shares of the technology company’s stock worth $156,000 after purchasing an additional 5,412 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Cantaloupe by 3.4% during the first quarter. Rhumbline Advisers now owns 83,698 shares of the technology company’s stock worth $659,000 after buying an additional 2,725 shares during the last quarter. Renaissance Technologies LLC increased its position in Cantaloupe by 18.8% in the 4th quarter. Renaissance Technologies LLC now owns 95,300 shares of the technology company’s stock valued at $906,000 after acquiring an additional 15,100 shares during the period. Ameriprise Financial Inc. raised its stake in Cantaloupe by 8.2% during the 4th quarter. Ameriprise Financial Inc. now owns 93,280 shares of the technology company’s stock valued at $887,000 after acquiring an additional 7,083 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Cantaloupe in the fourth quarter valued at approximately $821,000. Hedge funds and other 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.