Cantaloupe (NASDAQ:CTLP) Shares Down 5.6% – What’s Next?

Shares of Cantaloupe, Inc. (NASDAQ:CTLP) fell 5.6% on Tuesday . The stock traded as low as $8.11 and last traded at $8.27. 261,867 shares traded hands during trading, a decline of 38% from the average session volume of 425,106 shares. The stock had previously closed at $8.76.

Analysts Set New Price Targets

Several brokerages recently weighed in on CTLP. Benchmark boosted their target price on Cantaloupe from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Barrington Research reiterated an “outperform” rating and set a $14.00 price target on shares of Cantaloupe in a research note on Wednesday, May 21st. Finally, Wall Street Zen downgraded Cantaloupe from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Cantaloupe presently has a consensus rating of “Buy” and a consensus price target of $12.50.

Cantaloupe Stock Down 3.9%

The company has a quick ratio of 1.12, a current ratio of 1.81 and a debt-to-equity ratio of 0.19. The stock has a market cap of $615.15 million, a PE ratio of 42.10 and a beta of 1.08. The business has a 50 day moving average price of $7.97 and a 200 day moving average price of $8.70.

Cantaloupe (NASDAQ:CTLP) last issued its earnings results on Thursday, May 8th. The technology company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Cantaloupe had a return on equity of 8.36% and a net margin of 5.40%. The company had revenue of $75.43 million during the quarter, compared to analysts’ expectations of $79.83 million. Equities research analysts expect that Cantaloupe, Inc. will post 0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Cantaloupe

A number of large investors have recently bought and sold shares of CTLP. Farther Finance Advisors LLC raised its holdings in Cantaloupe by 8,886.0% in the 1st quarter. Farther Finance Advisors LLC now owns 4,493 shares of the technology company’s stock worth $35,000 after purchasing an additional 4,443 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Cantaloupe in the 4th quarter worth about $40,000. Parkside Financial Bank & Trust acquired a new position in Cantaloupe in the 4th quarter worth about $47,000. 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 worth $75,000 after purchasing an additional 3,400 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in Cantaloupe in the 4th quarter worth about $77,000. Institutional investors and hedge funds 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.