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

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.93 and traded as high as $11.06. Cantaloupe shares last traded at $11.03, with a volume of 887,957 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen cut Cantaloupe from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Benchmark cut Cantaloupe from a "buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Barrington Research cut Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, June 16th. Craig Hallum cut Cantaloupe from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Finally, B. Riley cut Cantaloupe from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $11.50 to $11.20 in a research note on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $12.24.

Cantaloupe Stock Performance

The company has a market cap of $805.85 million, a PE ratio of 13.96 and a beta of 1.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.79 and a quick ratio of 1.22. The business has a 50-day moving average of $9.50 and a 200 day moving average of $8.93.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Inspire Investing LLC increased its holdings in Cantaloupe by 3.5% in the 1st quarter. Inspire Investing LLC now owns 43,167 shares of the technology company's stock worth $340,000 after acquiring an additional 1,470 shares in the last quarter. Rhumbline Advisers increased its holdings in Cantaloupe by 3.4% in the 1st quarter. Rhumbline Advisers now owns 83,698 shares of the technology company's stock worth $659,000 after acquiring an additional 2,725 shares in the last quarter. Jane Street Group LLC purchased a new stake in Cantaloupe in the 1st quarter worth approximately $731,000. Expect Equity LLC purchased a new stake in shares of Cantaloupe during the first quarter worth about $711,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Cantaloupe during the first quarter worth about $250,000. 75.75% of the stock is currently owned by institutional investors.

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.

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