Cantaloupe (NASDAQ:CTLP) Rating Lowered to "Strong Sell" at Zacks Research

Key Points

• Cantaloupe has been downgraded to a "strong sell" rating by Zacks Research, following a trend of recent downgrades by multiple firms.
• The company's stock opened at $10.59, with a market cap of $780.38 million, and it has seen a decline of 0.6% in its price.
• CTO Gaurav Singal sold 200,000 shares of Cantaloupe at $10.63 per share, indicating a significant decrease of 83.15% in his stock position.

Cantaloupe (NASDAQ:CTLP - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Wednesday,Zacks.com reports.

A number of other research firms also recently commented on CTLP. Benchmark downgraded shares of Cantaloupe from a "buy" rating to a "hold" rating in a report on Tuesday, June 17th. B. Riley downgraded shares of Cantaloupe from a "buy" rating to a "neutral" rating and cut their price objective for the company from $11.50 to $11.20 in a report on Tuesday, June 17th. Weiss Ratings restated a "hold (c+)" rating on shares of Cantaloupe in a report on Wednesday, October 8th. Northland Capmk downgraded shares of Cantaloupe from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th. Finally, Craig Hallum downgraded shares of Cantaloupe from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Cantaloupe currently has a consensus rating of "Reduce" and a consensus target price of $12.55.

Cantaloupe Stock Down 0.6%

CTLP stock opened at $10.59 on Wednesday. The company has a market cap of $780.38 million, a price-to-earnings ratio of 13.41 and a beta of 1.07. The company has a current ratio of 1.86, a quick ratio of 1.30 and a debt-to-equity ratio of 0.15. Cantaloupe has a 12 month low of $7.01 and a 12 month high of $11.36. The firm has a 50-day moving average of $10.75 and a two-hundred day moving average of $9.84.

Insider Buying and Selling

In other Cantaloupe news, CTO Gaurav Singal sold 200,000 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $10.63, for a total value of $2,126,000.00. Following the completion of the transaction, the chief technology officer owned 40,533 shares of the company's stock, valued at $430,865.79. This trade represents a 83.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 6.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cantaloupe

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Inspire Investing LLC raised its stake in Cantaloupe by 20.0% during the 3rd quarter. Inspire Investing LLC now owns 42,610 shares of the technology company's stock worth $450,000 after acquiring an additional 7,107 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Cantaloupe by 136.2% during the second quarter. Osaic Holdings Inc. now owns 4,746 shares of the technology company's stock worth $52,000 after buying an additional 2,737 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Cantaloupe by 29.5% in the second quarter. Squarepoint Ops LLC now owns 149,210 shares of the technology company's stock valued at $1,640,000 after purchasing an additional 33,987 shares in the last quarter. State of Wyoming raised its position in shares of Cantaloupe by 291.3% in the second quarter. State of Wyoming now owns 55,863 shares of the technology company's stock valued at $614,000 after buying an additional 41,586 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Cantaloupe by 41.2% in the second quarter. Tower Research Capital LLC TRC now owns 7,940 shares of the technology company's stock valued at $87,000 after buying an additional 2,315 shares during the last quarter. 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.

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