Cantaloupe (NASDAQ:CTLP) Stock Price Down 1.8%

Cantaloupe, Inc. (NASDAQ:CTLP)’s share price dropped 1.8% during trading on Tuesday . The company traded as low as $9.76 and last traded at $9.92. Approximately 667,056 shares changed hands during mid-day trading, an increase of 252% from the average daily volume of 189,731 shares. The stock had previously closed at $10.10.

CTLP has been the topic of a number of recent analyst reports. Barrington Research assumed coverage on Cantaloupe in a research note on Friday, September 3rd. They issued a “buy” rating and a $15.00 price objective on the stock. Northland Securities boosted their target price on Cantaloupe from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 15th. Zacks Investment Research downgraded Cantaloupe from a “hold” rating to a “sell” rating in a research report on Friday, July 2nd. Finally, Lake Street Capital upped their price objective on Cantaloupe from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, September 3rd. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Cantaloupe currently has an average rating of “Buy” and a consensus target price of $15.00.

The business has a fifty day moving average of $10.14 and a 200 day moving average of $10.88. The firm has a market cap of $706.88 million, a P/E ratio of -70.85 and a beta of 2.12. The company has a quick ratio of 1.92, a current ratio of 2.00 and a debt-to-equity ratio of 0.09.

Cantaloupe (NASDAQ:CTLP) last released its quarterly earnings data on Wednesday, September 1st. The technology company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Cantaloupe had a negative return on equity of 6.99% and a negative net margin of 5.21%. On average, sell-side analysts expect that Cantaloupe, Inc. will post -0.1 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in CTLP. Steward Partners Investment Advisory LLC bought a new stake in shares of Cantaloupe in the second quarter worth about $30,000. Kistler Tiffany Companies LLC bought a new stake in shares of Cantaloupe in the second quarter worth about $32,000. Citigroup Inc. bought a new stake in shares of Cantaloupe in the second quarter worth about $46,000. Clearstead Advisors LLC bought a new stake in shares of Cantaloupe in the second quarter worth about $47,000. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Cantaloupe in the second quarter worth about $54,000. Institutional investors own 72.28% of the company’s stock.

About Cantaloupe (NASDAQ:CTLP)

Cantaloupe, Inc engages in the provision of technology-enabled solutions and value-added services that facilitate electronic payment transactions. It offers Internet of Things (“IoT“) and machine-to-machine (“M2M“) services, which include the ability to remotely monitor, control, and report on the results of distributed assets containing the electronic payment solutions.

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