Cantaloupe (NASDAQ:CTLP) Lowered to "Hold" Rating by Northland Capmk

Northland Capmk cut shares of Cantaloupe (NASDAQ:CTLP - Free Report) from a strong-buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

Several other research analysts also recently weighed in on CTLP. Benchmark downgraded Cantaloupe from a "buy" rating to a "hold" rating in a report on Tuesday. Wall Street Zen downgraded Cantaloupe from a "strong-buy" rating to a "buy" rating in a 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. William Blair cut shares of Cantaloupe from an "outperform" rating to a "market perform" rating in a research report on Monday, June 16th. Finally, B. Riley cut shares of Cantaloupe from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $11.50 to $11.20 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $12.24.

Cantaloupe Price Performance

CTLP stock traded up $0.01 on Tuesday, reaching $10.99. The company had a trading volume of 2,708,141 shares, compared to its average volume of 603,129. Cantaloupe has a 1 year low of $5.82 and a 1 year high of $11.36. 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 company's fifty day moving average is $8.58 and its 200 day moving average is $8.78. The company has a market cap of $802.93 million, a P/E ratio of 13.91 and a beta of 1.09.

Cantaloupe (NASDAQ:CTLP - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $79.83 million. On average, research analysts forecast that Cantaloupe will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CTLP. Janus Henderson Group PLC increased its stake in shares of Cantaloupe by 600.1% during the fourth quarter. Janus Henderson Group PLC now owns 1,085,046 shares of the technology company's stock valued at $10,303,000 after acquiring an additional 930,061 shares during the period. Nuveen LLC acquired a new position in shares of Cantaloupe during the first quarter valued at approximately $5,624,000. Nuveen Asset Management LLC increased 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 acquiring an additional 456,199 shares during the period. Invesco Ltd. increased its stake in shares of Cantaloupe by 1,768.2% during the fourth quarter. Invesco Ltd. now owns 397,299 shares of the technology company's stock valued at $3,778,000 after acquiring an additional 376,033 shares during the period. Finally, Royce & Associates LP increased its stake in shares of Cantaloupe by 99.6% during the fourth quarter. Royce & Associates LP now owns 563,000 shares of the technology company's stock valued at $5,354,000 after acquiring an additional 281,000 shares during the period. Institutional investors and hedge funds 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.