Cantaloupe (NASDAQ:CTLP) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Cantaloupe (NASDAQ:CTLP) shares moved above their 200-day moving average of $10.60, trading as high as $10.93 and last at $10.89 on a volume of 668,303 shares.
• Analysts have a consensus "Hold" rating with a $12.60 price target after mixed coverage (1 Buy, 6 Hold, 1 Sell) and recent upgrades from Weiss Ratings and Wall Street Zen.
• The company recently missed quarterly estimates—$0.04 EPS vs. $0.10 expected and $78.71M revenue vs. $84.92M expected—yet trades at a high P/E of 60.5, has a market cap of about $802.8M, and roughly 75.8% institutional ownership.

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.60 and traded as high as $10.93. Cantaloupe shares last traded at $10.89, with a volume of 668,303 shares traded.

Wall Street Analysts Forecast Growth

CTLP has been the subject of a number of recent research reports. Wall Street Zen upgraded Cantaloupe to a "hold" rating in a research note on Saturday, February 21st. Weiss Ratings raised Cantaloupe from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, February 9th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cantaloupe has a consensus rating of "Hold" and a consensus price target of $12.60.

Cantaloupe Price Performance

The firm has a fifty day moving average of $10.51 and a 200 day moving average of $10.60. The company has a market capitalization of $802.81 million, a P/E ratio of 60.50 and a beta of 1.02. The company has a current ratio of 1.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last posted its earnings results on Friday, February 6th. The technology company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). The company had revenue of $78.71 million for the quarter, compared to the consensus estimate of $84.92 million. Cantaloupe had a net margin of 17.32% and a return on equity of 8.76%. On average, equities research analysts anticipate that Cantaloupe, Inc. will post 0.32 EPS for the current year.

Institutional Investors Weigh In On Cantaloupe

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTLP. Principal Financial Group Inc. bought a new position in shares of Cantaloupe during the 3rd quarter valued at $1,978,000. Alpine Associates Management Inc. boosted its stake in shares of Cantaloupe by 76.4% in the 3rd quarter. Alpine Associates Management Inc. now owns 1,934,206 shares of the technology company's stock worth $20,445,000 after buying an additional 837,506 shares during the last quarter. New York Life Investment Management LLC bought a new stake in shares of Cantaloupe in the third quarter worth $1,536,000. Citigroup Inc. grew its holdings in shares of Cantaloupe by 637.6% in the third quarter. Citigroup Inc. now owns 169,650 shares of the technology company's stock worth $1,793,000 after acquiring an additional 146,649 shares during the period. Finally, BCK Capital Management LP increased its position in Cantaloupe by 330.9% during the third quarter. BCK Capital Management LP now owns 288,692 shares of the technology company's stock valued at $3,051,000 after acquiring an additional 221,692 shares during the last quarter. 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.

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