Cantaloupe (NASDAQ:CTLP) Stock Crosses Above 200 Day Moving Average - Should You Sell?

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.88 and traded as high as $11.10. Cantaloupe shares last traded at $11.04, with a volume of 1,669,946 shares.

Analysts Set New Price Targets

Several research firms have weighed in on CTLP. Wall Street Zen cut shares of Cantaloupe from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Barrington Research cut shares of Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, June 16th. B. Riley cut shares of Cantaloupe from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $11.50 to $11.20 in a research report on Tuesday, June 17th. William Blair cut shares of Cantaloupe from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Finally, Northland Capmk cut shares of Cantaloupe from a "strong-buy" rating to a "hold" rating 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $12.24.

Cantaloupe Stock Performance

The company has a market cap of $808.02 million, a P/E ratio of 14.00 and a beta of 1.17. The firm's fifty day moving average price is $9.25 and its 200-day moving average price is $8.88. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 0.15.

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

Hedge Funds Weigh In On Cantaloupe

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its holdings 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 valued at $35,000 after buying an additional 4,443 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in Cantaloupe in the fourth quarter valued at approximately $40,000. BNP Paribas Financial Markets acquired a new position in Cantaloupe in the fourth quarter valued at approximately $77,000. Bailard Inc. acquired a new position in Cantaloupe in the first quarter valued at approximately $87,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Cantaloupe in the fourth quarter valued at approximately $91,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.