Cantaloupe (NASDAQ:CTLP) Rating Lowered to "Hold" at Craig Hallum

Craig Hallum cut shares of Cantaloupe (NASDAQ:CTLP - Free Report) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

Several other brokerages also recently issued reports on CTLP. B. Riley downgraded Cantaloupe from a "buy" rating to a "neutral" rating and lowered their price target for the company from $11.50 to $11.20 in a report on Tuesday. William Blair cut shares of Cantaloupe from an "outperform" rating to a "market perform" rating in a research report on Monday. Northland Capmk cut shares of Cantaloupe from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Benchmark cut shares of Cantaloupe from a "buy" rating to a "hold" rating in a research report on Tuesday. Finally, Wall Street Zen cut shares of Cantaloupe from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $12.24.

Cantaloupe Stock Up 0.1%

NASDAQ CTLP traded up $0.01 during trading hours on Tuesday, hitting $10.99. The company had a trading volume of 2,708,141 shares, compared to its average volume of 603,165. Cantaloupe has a fifty-two week low of $5.82 and a fifty-two 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. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.79 and a quick ratio of 1.22. The firm's 50 day moving average is $8.58 and its 200 day moving average is $8.78.

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

Hedge Funds Weigh In On Cantaloupe

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTLP. Farther Finance Advisors LLC boosted its position in Cantaloupe by 8,886.0% in the 1st quarter. Farther Finance Advisors LLC now owns 4,493 shares of the technology company's stock valued at $35,000 after buying an additional 4,443 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Cantaloupe during the fourth quarter worth about $40,000. Parkside Financial Bank & Trust bought a new position in shares of Cantaloupe during the fourth quarter worth about $47,000. New York State Common Retirement Fund lifted its position in shares of 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 bought a new position in shares of Cantaloupe during the fourth quarter worth about $77,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

Cantaloupe Company Profile

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.