Cantaloupe (NASDAQ:CTLP) Shares Gap Down After Earnings Miss

Cantaloupe, Inc. (NASDAQ:CTLP)’s share price gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $7.59, but opened at $6.88. Cantaloupe shares last traded at $7.07, with a volume of 103,125 shares trading hands.

The technology company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). The firm had revenue of $64.17 million during the quarter, compared to analysts’ expectations of $63.37 million. Cantaloupe had a negative net margin of 1.80% and a negative return on equity of 2.78%. During the same period in the previous year, the firm earned ($0.03) EPS.

Analyst Upgrades and Downgrades

CTLP has been the topic of several recent analyst reports. William Blair restated an “outperform” rating on shares of Cantaloupe in a research report on Thursday. Barrington Research reiterated an “outperform” rating and set a $10.00 target price on shares of Cantaloupe in a research report on Thursday. B. Riley assumed coverage on shares of Cantaloupe in a research report on Thursday, August 17th. They issued a “buy” rating and a $10.50 price objective on the stock. Finally, TheStreet raised Cantaloupe from a “d+” rating to a “c-” rating in a research report on Monday, June 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTLP. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Cantaloupe in the 4th quarter valued at about $30,000. BerganKDV Wealth Management LLC acquired a new stake in shares of Cantaloupe in the second quarter worth $40,000. Lazard Asset Management LLC purchased a new position in shares of Cantaloupe in the 1st quarter valued at $40,000. Alliancebernstein L.P. acquired a new position in shares of Cantaloupe during the 4th quarter valued at $47,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Cantaloupe during the 2nd quarter worth $49,000. Institutional investors and hedge funds own 74.45% of the company’s stock.

Cantaloupe Trading Down 7.8 %

The firm has a fifty day moving average of $7.69 and a 200-day moving average of $6.71. The stock has a market capitalization of $507.28 million, a price-to-earnings ratio of -87.44 and a beta of 1.80. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.11 and a current ratio of 1.49.

Cantaloupe Company Profile

Cantaloupe, Inc, a digital payments and software services company, provides technology solutions for the unattended retail market. The company offers integrated solutions for payments processing, logistics, and back-office management. It also provides ePort, an integrated payment device that is deployed in self-service, unattended market applications, such as vending, micro-markets, amusement, arcade, commercial laundry, air/vacuum, car wash, and others, which facilitates digital payments; and integrated software services for payment or asset tracking devices.