Cantaloupe (NASDAQ:CTLP) Sees Unusually-High Trading Volume – Should You Buy?

Cantaloupe, Inc. (NASDAQ:CTLP) shares saw strong trading volume on Tuesday . 614,268 shares were traded during trading, an increase of 94% from the previous session’s volume of 316,003 shares.The stock last traded at $10.40 and had previously closed at $9.93.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Northland Securities upped their target price on shares of Cantaloupe from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Benchmark raised their target price on Cantaloupe from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Barrington Research reiterated an “outperform” rating and issued a $12.00 price target on shares of Cantaloupe in a research report on Monday, February 3rd.

Cantaloupe Stock Up 5.4 %

The company has a market capitalization of $763.84 million, a P/E ratio of 52.50 and a beta of 1.64. The company has a quick ratio of 1.03, a current ratio of 1.60 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $8.97 and a 200-day simple moving average of $8.26.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly earnings data on Thursday, February 6th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. Cantaloupe had a return on equity of 8.45% and a net margin of 5.40%. During the same quarter in the previous year, the company earned $0.04 earnings per share. On average, equities research analysts expect that Cantaloupe, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Trading of Cantaloupe

Hedge funds have recently modified their holdings of the stock. KLP Kapitalforvaltning AS bought a new position in Cantaloupe in the fourth quarter valued at approximately $91,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Cantaloupe in the 4th quarter valued at $40,000. Intech Investment Management LLC increased its stake in shares of Cantaloupe by 58.4% in the 4th quarter. Intech Investment Management LLC now owns 25,547 shares of the technology company’s stock valued at $243,000 after purchasing an additional 9,414 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Cantaloupe by 99.6% during the 4th quarter. Royce & Associates LP now owns 563,000 shares of the technology company’s stock worth $5,354,000 after buying an additional 281,000 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of Cantaloupe by 8.9% during the 4th quarter. First Eagle Investment Management LLC now owns 602,197 shares of the technology company’s stock worth $5,727,000 after buying an additional 49,000 shares during the last quarter. 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.