B. Riley Downgrades Cantaloupe (NASDAQ:CTLP) to Neutral

B. Riley cut shares of Cantaloupe (NASDAQ:CTLP - Free Report) from a buy rating to a neutral rating in a report issued on Tuesday, Marketbeat reports. The firm currently has $11.20 price objective on the technology company's stock, down from their previous price objective of $11.50.

Several other research firms have also recently weighed in on CTLP. Benchmark lifted their target price on Cantaloupe from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Barrington Research downgraded shares of Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a research report on Monday. Wall Street Zen lowered shares of Cantaloupe from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, William Blair lowered shares of Cantaloupe from an "outperform" rating to a "market perform" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.24.

Cantaloupe Trading Up 0.1%

NASDAQ CTLP traded up $0.01 on Tuesday, hitting $10.99. 2,708,016 shares of the stock were exchanged, compared to its average volume of 601,787. The company's 50-day moving average price is $8.51 and its two-hundred day moving average price is $8.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.79 and a quick ratio of 1.22. Cantaloupe has a 52-week low of $5.82 and a 52-week high of $11.36. The company has a market capitalization of $802.93 million, a price-to-earnings ratio of 13.91 and a beta of 1.09.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). The business had revenue of $75.43 million during the quarter, compared to analyst estimates of $79.83 million. Cantaloupe had a return on equity of 9.02% and a net margin of 20.47%. Research analysts predict that Cantaloupe will post 0.32 EPS for the current year.

Hedge Funds Weigh In On Cantaloupe

A number of hedge funds have recently added to or reduced their stakes in CTLP. Farther Finance Advisors LLC grew its position in Cantaloupe by 8,886.0% in the first quarter. Farther Finance Advisors LLC now owns 4,493 shares of the technology company's stock worth $35,000 after acquiring an additional 4,443 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Cantaloupe in the 4th quarter valued at $40,000. Parkside Financial Bank & Trust bought a new stake in Cantaloupe in the fourth quarter worth $47,000. New York State Common Retirement Fund boosted its holdings in Cantaloupe by 75.8% in 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 in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Cantaloupe during the fourth quarter worth $77,000. Institutional investors and hedge funds 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.