Cantaloupe (NASDAQ:CTLP) Shares Pass Above 200 Day Moving Average - Time to Sell?

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report)'s stock price passed 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 brokerages have weighed in on CTLP. Barrington Research cut Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, June 16th. Northland Capmk cut Cantaloupe from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th. Wall Street Zen cut Cantaloupe from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Craig Hallum lowered Cantaloupe from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Finally, Benchmark lowered Cantaloupe from a "buy" rating to a "hold" rating in a research note on Tuesday, June 17th. One research 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 currently has a consensus rating of "Hold" and a consensus target price of $12.24.

Cantaloupe Price Performance

The firm has a 50 day simple moving average of $9.61 and a two-hundred day simple moving average of $8.94. 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 stock has a market cap of $805.12 million, a price-to-earnings ratio of 13.95 and a beta of 1.17.

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

Institutional Investors Weigh In On Cantaloupe

Hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC raised its position in shares of Cantaloupe by 8,886.0% during the first 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. Harvest Fund Management Co. Ltd acquired a new stake in shares of Cantaloupe during the fourth quarter worth about $40,000. BNP Paribas Financial Markets acquired a new stake in shares of Cantaloupe during the fourth quarter worth about $77,000. Bailard Inc. acquired a new stake in shares of Cantaloupe during the first quarter worth about $87,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Cantaloupe during the fourth quarter worth about $91,000. Institutional investors and hedge funds 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.