Cantaloupe (NASDAQ:CTLP) Issues Quarterly Earnings Results

Cantaloupe (NASDAQ:CTLP) announced its earnings results on Friday. The technology company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06), Zacks reports. Cantaloupe had a return on equity of 9.58% and a net margin of 19.21%.The business had revenue of $78.71 million for the quarter, compared to analyst estimates of $84.92 million.

Cantaloupe Trading Down 0.1%

CTLP stock opened at $10.66 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.81 and a debt-to-equity ratio of 0.14. The company has a market cap of $785.64 million, a price-to-earnings ratio of 50.76 and a beta of 1.09. The business has a fifty day simple moving average of $10.68 and a 200-day simple moving average of $10.72. Cantaloupe has a 52 week low of $7.01 and a 52 week high of $11.36.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CTLP. Weiss Ratings reissued a “hold (c)” rating on shares of Cantaloupe in a research note on Monday, December 29th. Zacks Research upgraded Cantaloupe from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Seven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $12.73.

Institutional Investors Weigh In On Cantaloupe

A number of institutional investors have recently added to or reduced their stakes in CTLP. Verition Fund Management LLC acquired a new position in shares of Cantaloupe in the 3rd quarter valued at about $3,173,000. Qube Research & Technologies Ltd increased its position in Cantaloupe by 346.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,936,945 shares of the technology company’s stock worth $20,474,000 after purchasing an additional 1,503,453 shares in the last quarter. Prelude Capital Management LLC raised its holdings in Cantaloupe by 228.9% in the third quarter. Prelude Capital Management LLC now owns 163,369 shares of the technology company’s stock valued at $1,727,000 after buying an additional 113,694 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Cantaloupe by 56.6% during the third quarter. Mercer Global Advisors Inc. ADV now owns 25,203 shares of the technology company’s stock valued at $266,000 after buying an additional 9,107 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Cantaloupe by 176.6% during the third quarter. Millennium Management LLC now owns 700,988 shares of the technology company’s stock worth $7,409,000 after buying an additional 447,549 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

About Cantaloupe

Cantaloupe, Inc (NASDAQ: CTLP), formerly known as USA Technologies, is a provider of cashless payment and point-of-sale solutions for the unattended retail market. The company develops and distributes IoT-enabled hardware and software that enable vending machines, kiosks, micro markets, laundry machines and other self-service devices to accept credit and debit cards, mobile wallets and contactless payments. Its ePort® terminals integrate with back-end systems to process transactions securely and comply with the latest EMV and PCI standards.

At the core of Cantaloupe’s offering is its cloud-based ePort Connect® platform, which facilitates real-time remote monitoring, device management and data analytics.