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

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) passed 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 changing hands.

Analysts Set New Price Targets

CTLP has been the subject of several research reports. Barrington Research cut Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, June 16th. Northland Capmk lowered shares of Cantaloupe from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th. B. Riley cut shares of Cantaloupe from a "buy" rating to a "neutral" rating and reduced their target price for the company from $11.50 to $11.20 in a research report on Tuesday, June 17th. Craig Hallum lowered shares of Cantaloupe from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 17th. Finally, Wall Street Zen cut shares of Cantaloupe from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $12.24.

Cantaloupe Stock Up 0.2%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.22 and a current ratio of 1.79. The business has a 50 day simple moving average of $9.25 and a 200-day simple moving average of $8.89. The firm has a market capitalization of $808.04 million, a price-to-earnings ratio of 14.00 and a beta of 1.17.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $75.43 million for 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%. On average, equities analysts expect that Cantaloupe, Inc. will post 0.32 EPS for the current year.

Institutional Trading of Cantaloupe

Several institutional investors have recently made changes to their positions in CTLP. Harvest Fund Management Co. Ltd acquired a new stake in Cantaloupe during the fourth quarter worth $40,000. Farther Finance Advisors LLC grew its holdings in shares of Cantaloupe by 8,886.0% during the 1st 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. New York State Common Retirement Fund grew its holdings in shares of 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 purchasing an additional 3,400 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Cantaloupe during the 4th quarter worth about $77,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Cantaloupe in the 4th quarter valued at about $91,000. Hedge funds and other institutional investors own 75.75% of the company's stock.

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.