Cantaloupe (NASDAQ:CTLP) Rating Lowered to “Hold” at Northland Capmk

Northland Capmk cut shares of Cantaloupe (NASDAQ:CTLP) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms have also weighed in on CTLP. William Blair lowered Cantaloupe from an “outperform” rating to a “market perform” rating in a report on Monday. Wall Street Zen lowered Cantaloupe from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. B. Riley lowered Cantaloupe from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $11.50 to $11.20 in a report on Tuesday. Benchmark lowered Cantaloupe from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Barrington Research lowered 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 assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.24.

Cantaloupe Trading Down 0.1%

Shares of NASDAQ CTLP opened at $10.98 on Tuesday. The stock has a market cap 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 $8.51 and a 200 day simple moving average of $8.77. Cantaloupe has a 52 week low of $5.82 and a 52 week high of $11.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.22 and a current ratio of 1.79.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CTLP. Rhumbline Advisers lifted its holdings in shares of Cantaloupe by 4.1% during the fourth quarter. Rhumbline Advisers now owns 80,973 shares of the technology company’s stock worth $770,000 after buying an additional 3,221 shares during the last quarter. Truist Financial Corp bought a new stake in shares of Cantaloupe during the fourth quarter valued at approximately $111,000. New York State Common Retirement Fund increased its position in shares of Cantaloupe by 75.8% during the fourth quarter. New York State Common Retirement Fund now owns 7,884 shares of the technology company’s stock valued at $75,000 after purchasing an additional 3,400 shares during the period. Parkside Financial Bank & Trust bought a new stake in shares of Cantaloupe during the fourth quarter valued at approximately $47,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Cantaloupe by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 479,346 shares of the technology company’s stock valued at $4,559,000 after purchasing an additional 3,888 shares during the period. 75.75% of the stock is currently owned by institutional investors and hedge funds.

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.