Cantaloupe (NASDAQ:CTLP) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Cantaloupe, Inc. (NASDAQ:CTLP) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 traded.

Analyst Ratings Changes

CTLP has been the topic of a number of research analyst reports. Barrington Research lowered shares of Cantaloupe from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, June 16th. Northland Capmk cut shares of Cantaloupe from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 17th. Benchmark downgraded Cantaloupe from a “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 decreased their target price for the stock from $11.50 to $11.20 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 research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Cantaloupe has an average rating of “Hold” and an average target price of $12.24.

Cantaloupe Trading Up 0.3%

The firm has a market cap of $806.58 million, a P/E ratio of 13.97 and a beta of 1.17. The company’s fifty day moving average price is $9.13 and its two-hundred day moving average price is $8.88. The company has a current ratio of 1.79, a quick ratio of 1.22 and a debt-to-equity ratio of 0.15.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CTLP. Vanguard Group Inc. lifted its holdings in shares of Cantaloupe by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,553,862 shares of the technology company’s stock valued at $27,969,000 after purchasing an additional 14,747 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Cantaloupe by 0.7% during the fourth quarter. Deutsche Bank AG now owns 2,966,050 shares of the technology company’s stock worth $28,207,000 after acquiring an additional 20,314 shares during the period. Dimensional Fund Advisors LP boosted its stake in Cantaloupe by 5.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,231,728 shares of the technology company’s stock valued at $11,714,000 after purchasing an additional 68,546 shares during the period. Janus Henderson Group PLC increased its position in Cantaloupe by 600.1% during the 4th quarter. Janus Henderson Group PLC now owns 1,085,046 shares of the technology company’s stock worth $10,303,000 after buying an additional 930,061 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in shares of Cantaloupe by 102.7% in 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 in the last quarter. 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.