Cantaloupe, Inc. (NASDAQ:CTLP – Get Free Report)’s stock price gapped down prior to trading on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $8.27, but opened at $7.68. Cantaloupe shares last traded at $7.82, with a volume of 18,015 shares traded.
The technology company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). Cantaloupe had a net margin of 5.40% and a return on equity of 8.36%. The business had revenue of $75.43 million during the quarter, compared to analyst estimates of $79.83 million.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Barrington Research reiterated an “outperform” rating and issued a $14.00 target price on shares of Cantaloupe in a research report on Thursday, March 27th. Benchmark lifted their price objective on Cantaloupe from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th.
Institutional Investors Weigh In On Cantaloupe
Large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its stake in Cantaloupe by 8,886.0% during the first quarter. Farther Finance Advisors LLC now owns 4,493 shares of the technology company’s stock worth $35,000 after buying an additional 4,443 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Cantaloupe during the 4th quarter valued at about $40,000. Parkside Financial Bank & Trust purchased a new stake in shares of Cantaloupe in the fourth quarter valued at about $47,000. New York State Common Retirement Fund increased its position in Cantaloupe by 75.8% during the fourth quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company’s stock worth $75,000 after purchasing an additional 3,400 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Cantaloupe during the fourth quarter worth about $77,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.
Cantaloupe Stock Down 6.9 %
The firm’s fifty day simple moving average is $7.88 and its two-hundred day simple moving average is $8.78. The company has a current ratio of 1.81, a quick ratio of 1.12 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $562.37 million, a price-to-earnings ratio of 38.50 and a beta of 1.08.
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.
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