Craig Hallum Downgrades Cantaloupe (NASDAQ:CTLP) to Hold

Cantaloupe (NASDAQ:CTLP) was downgraded by research analysts at Craig Hallum from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms have also commented on CTLP. William Blair lowered shares of Cantaloupe from an “outperform” rating to a “market perform” rating in a report on Monday. Wall Street Zen cut Cantaloupe from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. B. Riley downgraded Cantaloupe from a “buy” rating to a “neutral” rating and decreased their price target for the company from $11.50 to $11.20 in a report on Tuesday. Northland Capmk lowered Cantaloupe from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Barrington Research lowered shares of Cantaloupe from a “strong-buy” rating to a “strong sell” rating in a report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.24.

Cantaloupe Trading Down 0.1%

Cantaloupe stock opened at $10.98 on Tuesday. The stock has a 50-day moving average price of $8.45 and a 200 day moving average price of $8.75. The company has a market capitalization of $802.20 million, a price-to-earnings ratio of 13.90 and a beta of 1.09. Cantaloupe has a 52 week low of $5.82 and a 52 week high of $11.36. The company has a quick ratio of 1.22, a current ratio of 1.79 and a debt-to-equity ratio of 0.15.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly 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 business had revenue of $75.43 million for the quarter, compared to analysts’ expectations of $79.83 million. Cantaloupe had a return on equity of 9.02% and a net margin of 20.47%. Sell-side analysts anticipate that Cantaloupe will post 0.32 EPS for the current year.

Institutional Investors Weigh In On Cantaloupe

Large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in shares of Cantaloupe by 8,886.0% in the first quarter. Farther Finance Advisors LLC now owns 4,493 shares of the technology company’s stock worth $35,000 after acquiring an additional 4,443 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Cantaloupe in the 4th quarter valued at $40,000. Parkside Financial Bank & Trust purchased a new position in Cantaloupe in the 4th quarter valued at $47,000. New York State Common Retirement Fund boosted its stake in Cantaloupe by 75.8% during the 4th quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company’s stock worth $75,000 after purchasing an additional 3,400 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Cantaloupe during the fourth quarter worth $77,000. 75.75% of the stock is currently owned by hedge funds and other institutional investors.

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.