Cantaloupe (NASDAQ:CTLP) Downgraded to Hold Rating by Craig Hallum

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

A number of other research analysts also recently weighed in on the stock. Benchmark downgraded shares of Cantaloupe from a "buy" rating to a "hold" rating in a report on Tuesday, June 17th. Barrington Research cut Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, June 16th. William Blair cut Cantaloupe from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Wall Street Zen cut Cantaloupe from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, B. Riley cut Cantaloupe from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $11.50 to $11.20 in a research report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Cantaloupe currently has a consensus rating of "Hold" and a consensus price target of $12.24.

Cantaloupe Stock Performance

Shares of NASDAQ:CTLP traded up $0.01 during trading hours on Tuesday, hitting $10.99. The stock had a trading volume of 2,708,141 shares, compared to its average volume of 603,129. Cantaloupe has a 1-year low of $5.82 and a 1-year high of $11.36. The firm has a market capitalization of $802.91 million, a price-to-earnings ratio of 13.91 and a beta of 1.09. The stock's fifty day simple moving average is $8.58 and its 200 day simple moving average is $8.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.22 and a current ratio of 1.79.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). The company 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%. 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 large investors have recently modified their holdings of CTLP. Harvest Fund Management Co. Ltd bought a new position in Cantaloupe during the 4th quarter worth $40,000. Farther Finance Advisors LLC increased its holdings in shares of 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 purchasing an additional 4,443 shares during the period. Parkside Financial Bank & Trust acquired a new stake in shares of Cantaloupe in the fourth quarter valued at approximately $47,000. New York State Common Retirement Fund increased its stake in Cantaloupe by 75.8% during the 4th quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company's stock worth $75,000 after acquiring an additional 3,400 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Cantaloupe during the 4th quarter worth $77,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.