Cantaloupe (NASDAQ:CTLP) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Cantaloupe, Inc. (NASDAQ:CTLP) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.60 and traded as high as $10.93. Cantaloupe shares last traded at $10.89, with a volume of 668,303 shares.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of Cantaloupe to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings raised Cantaloupe from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cantaloupe has a consensus rating of “Hold” and a consensus target price of $12.60.

Cantaloupe Price Performance

The company has a current ratio of 1.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $799.12 million, a PE ratio of 60.22 and a beta of 1.02. The stock’s 50-day moving average is $10.52 and its two-hundred day moving average is $10.60.

Cantaloupe (NASDAQ:CTLP) last announced its earnings results on Friday, February 6th. The technology company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). Cantaloupe had a net margin of 17.32% and a return on equity of 8.76%. The business had revenue of $78.71 million for the quarter, compared to analysts’ expectations of $84.92 million. On average, equities analysts predict that Cantaloupe, Inc. will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CTLP. Caitong International Asset Management Co. Ltd lifted its holdings in Cantaloupe by 514.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,766 shares of the technology company’s stock valued at $29,000 after buying an additional 2,316 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Cantaloupe in the 3rd quarter worth about $32,000. Osaic Holdings Inc. increased its position in shares of Cantaloupe by 136.2% during the second quarter. Osaic Holdings Inc. now owns 4,746 shares of the technology company’s stock worth $52,000 after acquiring an additional 2,737 shares during the period. Russell Investments Group Ltd. increased its position in shares of Cantaloupe by 2,824.0% during the third quarter. Russell Investments Group Ltd. now owns 5,234 shares of the technology company’s stock worth $55,000 after acquiring an additional 5,055 shares during the period. Finally, US Bancorp DE raised its position in Cantaloupe by 142.2% during the 3rd quarter. US Bancorp DE now owns 5,667 shares of the technology company’s stock valued at $60,000 after purchasing an additional 3,327 shares in the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

Cantaloupe Company Profile

Cantaloupe, Inc (NASDAQ: CTLP), formerly known as USA Technologies, is a provider of cashless payment and point-of-sale solutions for the unattended retail market. The company develops and distributes IoT-enabled hardware and software that enable vending machines, kiosks, micro markets, laundry machines and other self-service devices to accept credit and debit cards, mobile wallets and contactless payments. Its ePort® terminals integrate with back-end systems to process transactions securely and comply with the latest EMV and PCI standards.

At the core of Cantaloupe’s offering is its cloud-based ePort Connect® platform, which facilitates real-time remote monitoring, device management and data analytics.