Cantaloupe (NASDAQ:CTLP) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Cantaloupe, Inc. (NASDAQ:CTLP) saw its stock price rise above the 200-day moving average of $9.48, trading as high as $10.85, indicating strong market activity.
• Analyst ratings have been downgraded recently, with Cantaloupe falling from a "strong-buy" to a "buy" and other reductions, resulting in an average rating of "Hold" and a target price of $12.55.
• Institutional investors hold 75.75% of Cantaloupe's stock, with significant recent acquisitions from firms such as Ameriprise Financial and Nuveen Asset Management.

Cantaloupe, Inc. (NASDAQ:CTLP - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.48 and traded as high as $10.85. Cantaloupe shares last traded at $10.85, with a volume of 678,818 shares.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CTLP. Benchmark cut Cantaloupe from a "buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Northland Capmk cut Cantaloupe from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. 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. Craig Hallum lowered Cantaloupe from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 17th. Finally, Barrington Research lowered Cantaloupe from a "strong-buy" rating to a "strong sell" rating in a report on Monday, June 16th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Cantaloupe has an average rating of "Hold" and an average target price of $12.55.

Cantaloupe Stock Up 0.3%

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.86 and a quick ratio of 1.30. The company has a market cap of $779.91 million, a PE ratio of 13.46 and a beta of 1.09. The company has a fifty day moving average price of $10.93 and a 200 day moving average price of $9.51.

Insider Transactions at Cantaloupe

In other Cantaloupe news, CTO Gaurav Singal sold 200,000 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $10.63, for a total value of $2,126,000.00. Following the completion of the sale, the chief technology officer owned 40,533 shares of the company's stock, valued at $430,865.79. This represents a 83.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Cantaloupe

Several hedge funds and other institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC boosted its stake in shares of Cantaloupe by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 16,449 shares of the technology company's stock valued at $156,000 after purchasing an additional 5,412 shares during the period. Rhumbline Advisers boosted its stake in shares of Cantaloupe by 3.4% during the first quarter. Rhumbline Advisers now owns 83,698 shares of the technology company's stock valued at $659,000 after purchasing an additional 2,725 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Cantaloupe by 8.2% during the fourth quarter. Ameriprise Financial Inc. now owns 93,280 shares of the technology company's stock valued at $887,000 after purchasing an additional 7,083 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Cantaloupe during the fourth quarter valued at approximately $821,000. Finally, Nuveen Asset Management LLC boosted its stake in shares of Cantaloupe by 102.7% during the fourth quarter. Nuveen Asset Management LLC now owns 900,201 shares of the technology company's stock valued at $8,561,000 after purchasing an additional 456,199 shares during the period. Hedge funds and other institutional investors own 75.75% of the company's stock.

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.