Cantaloupe (NASDAQ:CTLP) Stock Price Down 5.3% - Should You Sell?

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) shares dropped 5.3% during trading on Thursday . The stock traded as low as $9.31 and last traded at $9.32. Approximately 133,849 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 344,535 shares. The stock had previously closed at $9.84.

Analyst Upgrades and Downgrades

CTLP has been the subject of several analyst reports. Barrington Research restated an "outperform" rating and set a $10.00 target price on shares of Cantaloupe in a report on Monday, November 4th. Craig Hallum lowered their price objective on Cantaloupe from $13.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, September 11th. Benchmark raised their target price on shares of Cantaloupe from $10.00 to $11.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Finally, Northland Securities upped their price target on shares of Cantaloupe from $10.00 to $12.00 and gave the company an "outperform" rating in a report on Monday, November 11th.

Cantaloupe Price Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.60. The business has a 50-day simple moving average of $9.18 and a 200 day simple moving average of $7.74. The firm has a market cap of $679.50 million, a P/E ratio of 54.77 and a beta of 1.66.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last announced its earnings results on Thursday, November 7th. The technology company reported $0.04 EPS for the quarter, meeting analysts' consensus estimates of $0.04. The company had revenue of $70.84 million during the quarter, compared to the consensus estimate of $70.54 million. Cantaloupe had a return on equity of 7.53% and a net margin of 4.90%. During the same quarter in the prior year, the company earned $0.02 earnings per share. On average, analysts anticipate that Cantaloupe, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Transactions at Cantaloupe

In other news, Director Douglas Bergeron purchased 36,000 shares of the company's stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average cost of $7.41 per share, for a total transaction of $266,760.00. Following the completion of the transaction, the director now directly owns 462,319 shares of the company's stock, valued at $3,425,783.79. This trade represents a 8.44 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.30% of the company's stock.

Hedge Funds Weigh In On Cantaloupe

A number of institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new stake in shares of Cantaloupe in the 2nd quarter worth about $89,000. Bank of New York Mellon Corp grew its holdings in Cantaloupe by 10.8% in the second quarter. Bank of New York Mellon Corp now owns 212,891 shares of the technology company's stock worth $1,405,000 after purchasing an additional 20,835 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Cantaloupe by 68.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,075 shares of the technology company's stock valued at $152,000 after purchasing an additional 9,374 shares in the last quarter. ClariVest Asset Management LLC lifted its holdings in shares of Cantaloupe by 2.8% during the second quarter. ClariVest Asset Management LLC now owns 112,469 shares of the technology company's stock valued at $742,000 after purchasing an additional 3,011 shares during the last quarter. Finally, First Eagle Investment Management LLC bought a new stake in shares of Cantaloupe in the 2nd quarter worth approximately $2,276,000. Institutional investors own 75.75% of the company's stock.

About Cantaloupe

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.