Cantaloupe (NASDAQ:CTLP) Downgraded by Barrington Research to Strong Sell

Barrington Research downgraded shares of Cantaloupe (NASDAQ:CTLP) from a strong-buy rating to a strong sell rating in a report published on Monday, MarketBeat Ratings reports.

Several other analysts have also weighed in on CTLP. Wall Street Zen lowered Cantaloupe from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Benchmark boosted their price target on shares of Cantaloupe from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, William Blair lowered shares of Cantaloupe from an “outperform” rating to a “market perform” rating in a research report on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.24.

Cantaloupe Stock Performance

Shares of CTLP stock opened at $10.98 on Monday. Cantaloupe has a 12-month low of $5.82 and a 12-month high of $11.36. The firm has a market capitalization of $802.20 million, a price-to-earnings ratio of 13.90 and a beta of 1.09. The business has a 50 day simple moving average of $8.45 and a 200 day simple moving average of $8.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.79 and a quick ratio of 1.22.

Cantaloupe (NASDAQ:CTLP) last announced 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). The company had revenue of $75.43 million during the quarter, compared to the consensus estimate of $79.83 million. Cantaloupe had a net margin of 20.47% and a return on equity of 9.02%. On average, equities research analysts anticipate that Cantaloupe will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. ProShare Advisors LLC grew its holdings in shares of Cantaloupe by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 16,449 shares of the technology company’s stock valued at $156,000 after acquiring an additional 5,412 shares in the last quarter. Renaissance Technologies LLC boosted its position in Cantaloupe by 18.8% during the fourth quarter. Renaissance Technologies LLC now owns 95,300 shares of the technology company’s stock valued at $906,000 after purchasing an additional 15,100 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Cantaloupe by 8.2% in 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 in the last quarter. Squarepoint Ops LLC purchased a new position in Cantaloupe in the fourth quarter valued at about $821,000. Finally, Nuveen Asset Management LLC increased its holdings in Cantaloupe by 102.7% in the fourth quarter. Nuveen Asset Management LLC now owns 900,201 shares of the technology company’s stock worth $8,561,000 after buying an additional 456,199 shares during the last quarter. 75.75% of the stock is owned by institutional investors and hedge funds.

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.