Cantaloupe (NASDAQ:CTLP) Sees Strong Trading Volume - Here's Why

Shares of Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) saw an uptick in trading volume on Tuesday . 614,268 shares traded hands 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.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CTLP. Barrington Research increased their target price on shares of Cantaloupe from $12.00 to $14.00 and gave the company an "outperform" rating in a research report on Wednesday. Benchmark increased their target price on shares of Cantaloupe from $10.00 to $11.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, Northland Securities raised their price objective on shares of Cantaloupe from $10.00 to $12.00 and gave the stock an "outperform" rating in a report on Monday, November 11th.

Cantaloupe Stock Performance

The company's fifty day moving average is $9.10 and its 200 day moving average is $8.34. The company has a market capitalization of $778.80 million, a P/E ratio of 53.35 and a beta of 1.64. The company has a current ratio of 1.60, a quick ratio of 1.03 and a debt-to-equity ratio of 0.19.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. Cantaloupe had a net margin of 5.40% and a return on equity of 8.45%. During the same period in the prior year, the firm posted $0.04 earnings per share. As a group, equities analysts anticipate that Cantaloupe, Inc. will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Barclays PLC boosted its holdings in Cantaloupe by 272.2% in the 3rd quarter. Barclays PLC now owns 113,920 shares of the technology company's stock valued at $843,000 after purchasing an additional 83,316 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Cantaloupe by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the technology company's stock valued at $3,518,000 after purchasing an additional 21,938 shares during the period. Geode Capital Management LLC boosted its holdings in Cantaloupe by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,366,034 shares of the technology company's stock valued at $10,111,000 after purchasing an additional 46,518 shares during the period. JPMorgan Chase & Co. raised its position in shares of Cantaloupe by 340.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 111,394 shares of the technology company's stock valued at $824,000 after buying an additional 86,109 shares in the last quarter. Finally, State Street Corp raised its position in shares of Cantaloupe by 2.4% during the 3rd quarter. State Street Corp now owns 1,237,888 shares of the technology company's stock valued at $9,160,000 after buying an additional 29,460 shares in the last quarter. 75.75% of the stock is owned by institutional investors.

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.