Cantaloupe (NASDAQ:CTLP) Stock Price Up 9.8% After Strong Earnings

Cantaloupe, Inc. (NASDAQ:CTLP)’s stock price traded up 9.8% during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $9.56 and last traded at $9.52. 206,859 shares were traded during trading, a decline of 22% from the average session volume of 266,784 shares. The stock had previously closed at $8.67.

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 4.90% and a return on equity of 7.53%. During the same quarter in the prior year, the firm earned $0.04 EPS.

Analysts Set New Price Targets

Several research firms have issued reports on CTLP. Benchmark upped their price target 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. Barrington Research reaffirmed an “outperform” rating and issued a $12.00 price target on shares of Cantaloupe in a research note on Monday, February 3rd. Finally, Northland Securities lifted their price target on Cantaloupe from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th.

Institutional Investors Weigh In On Cantaloupe

Institutional investors and hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC increased its stake in shares of Cantaloupe by 163.2% during the second quarter. Squarepoint Ops LLC now owns 31,228 shares of the technology company’s stock valued at $206,000 after buying an additional 19,365 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Cantaloupe by 15.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,079 shares of the technology company’s stock worth $159,000 after purchasing an additional 3,210 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Cantaloupe in the 3rd quarter worth about $164,000. Inspire Investing LLC purchased a new stake in shares of Cantaloupe in the 3rd quarter worth about $416,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Cantaloupe in the 3rd quarter worth about $153,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Cantaloupe Stock Performance

The company’s 50-day moving average price is $8.96 and its 200 day moving average price is $8.23. 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 stock has a market capitalization of $718.22 million, a PE ratio of 57.89 and a beta of 1.64.

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.