Cantaloupe (NASDAQ:CTLP) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Cantaloupe, Inc. (NASDAQ:CTLP) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.00 and traded as high as $8.85. Cantaloupe shares last traded at $8.72, with a volume of 232,795 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Benchmark boosted their price objective on Cantaloupe from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $10.00 price target on shares of Cantaloupe in a research report on Monday, November 4th. Finally, Northland Securities raised their price objective on shares of Cantaloupe from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Monday, November 11th.

Cantaloupe Stock Down 4.6 %

The company has a market capitalization of $607.24 million, a price-to-earnings ratio of 48.94 and a beta of 1.64. The company has a quick ratio of 1.03, a current ratio of 1.60 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average price of $9.25 and a 200-day moving average price of $8.01.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Cantaloupe had a net margin of 4.90% and a return on equity of 7.53%. The company had revenue of $70.84 million during the quarter, compared to analyst estimates of $70.54 million. During the same period in the prior year, the firm earned $0.02 earnings per share. As a group, equities analysts anticipate that Cantaloupe, Inc. will post 0.32 earnings per share for the current fiscal year.

Institutional Trading of Cantaloupe

A number of hedge funds have recently modified their holdings of CTLP. Barclays PLC raised its position in Cantaloupe by 272.2% during the third quarter. Barclays PLC now owns 113,920 shares of the technology company’s stock valued at $843,000 after buying an additional 83,316 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Cantaloupe by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 475,458 shares of the technology company’s stock valued at $3,518,000 after purchasing an additional 21,938 shares during the period. First Eagle Investment Management LLC purchased a new stake in shares of Cantaloupe in the second quarter worth approximately $2,276,000. State Street Corp boosted its holdings in shares of Cantaloupe by 2.4% during the third quarter. State Street Corp now owns 1,237,888 shares of the technology company’s stock worth $9,160,000 after purchasing an additional 29,460 shares during the period. Finally, Geode Capital Management LLC increased its stake in Cantaloupe by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,366,034 shares of the technology company’s stock valued at $10,111,000 after buying an additional 46,518 shares during the period. Hedge funds and other institutional investors own 75.75% of the company’s stock.

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.