Cantaloupe (NASDAQ:CTLP) Sees Large Volume Increase – Should You Buy?

Cantaloupe, Inc. (NASDAQ:CTLP) saw strong trading volume on Thursday . 2,593,305 shares were traded 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.

Analysts Set New Price Targets

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

Cantaloupe Stock Down 0.1%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.28 and a current ratio of 1.81. The company’s fifty day moving average price is $10.68 and its 200-day moving average price is $10.72. The stock has a market cap of $785.64 million, a P/E ratio of 50.76 and a beta of 1.09.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly earnings data on Friday, February 6th. The technology company reported $0.00 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.10). The firm had revenue of $78.71 million during the quarter, compared to analysts’ expectations of $84.92 million. Cantaloupe had a return on equity of 9.58% and a net margin of 19.21%. Equities analysts forecast that Cantaloupe, Inc. will post 0.32 EPS for the current year.

Institutional Trading of Cantaloupe

Institutional investors and hedge funds have recently made changes to their positions in the business. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of Cantaloupe by 9.6% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 282,200 shares of the technology company’s stock worth $2,997,000 after purchasing an additional 24,800 shares during the last quarter. New York Life Investment Management LLC boosted its position in Cantaloupe by 9.7% in the 4th quarter. New York Life Investment Management LLC now owns 159,399 shares of the technology company’s stock valued at $1,693,000 after buying an additional 14,051 shares during the period. Wolverine Asset Management LLC grew its stake in Cantaloupe by 1.1% in the 4th quarter. Wolverine Asset Management LLC now owns 324,749 shares of the technology company’s stock worth $3,449,000 after acquiring an additional 3,500 shares in the last quarter. Weber Capital Management LLC ADV purchased a new position in shares of Cantaloupe during the fourth quarter worth approximately $5,988,000. Finally, UBS Group AG raised its stake in shares of Cantaloupe by 25.9% during the fourth quarter. UBS Group AG now owns 1,223,564 shares of the technology company’s stock valued at $12,994,000 after acquiring an additional 252,094 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors.

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.