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

Shares of Cantaloupe, Inc. (NASDAQ:CTLP) saw unusually-strong trading volume on Thursday . Approximately 2,593,305 shares changed hands during trading, an increase of 96% from the previous session’s volume of 1,326,154 shares.The stock last traded at $10.5150 and had previously closed at $10.55.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CTLP shares. Zacks Research upgraded Cantaloupe from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cantaloupe in a research note on Monday, December 29th. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Cantaloupe currently has an average rating of “Reduce” and a consensus target price of $12.73.

Cantaloupe Stock Up 0.7%

The business has a fifty day moving average of $10.68 and a 200-day moving average of $10.73. The stock has a market cap of $783.03 million, a PE ratio of 50.60 and a beta of 1.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.81 and a quick ratio of 1.28.

Institutional Trading of Cantaloupe

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey grew its stake in shares of Cantaloupe by 10.4% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 13,428 shares of the technology company’s stock valued at $148,000 after buying an additional 1,268 shares in the last quarter. DCF Advisers LLC increased its stake in Cantaloupe by 6.3% during the 2nd quarter. DCF Advisers LLC now owns 33,500 shares of the technology company’s stock worth $368,000 after buying an additional 2,000 shares during the period. BNP Paribas Financial Markets boosted its holdings in Cantaloupe by 55.6% in the second quarter. BNP Paribas Financial Markets now owns 5,772 shares of the technology company’s stock valued at $63,000 after purchasing an additional 2,063 shares during the period. Tower Research Capital LLC TRC grew its stake in Cantaloupe by 41.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,940 shares of the technology company’s stock worth $87,000 after purchasing an additional 2,315 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Cantaloupe by 3.0% during the 3rd quarter. Rhumbline Advisers now owns 82,793 shares of the technology company’s stock worth $875,000 after purchasing an additional 2,423 shares during the period. Institutional investors and hedge funds own 75.75% of the company’s stock.

Cantaloupe Company Profile

Cantaloupe, Inc (NASDAQ: CTLP), formerly known as USA Technologies, is a provider of cashless payment and point-of-sale solutions for the unattended retail market. The company develops and distributes IoT-enabled hardware and software that enable vending machines, kiosks, micro markets, laundry machines and other self-service devices to accept credit and debit cards, mobile wallets and contactless payments. Its ePort® terminals integrate with back-end systems to process transactions securely and comply with the latest EMV and PCI standards.

At the core of Cantaloupe’s offering is its cloud-based ePort Connect® platform, which facilitates real-time remote monitoring, device management and data analytics.