Cantaloupe (NASDAQ:CTLP) Cut to Strong Sell at Barrington Research

Cantaloupe (NASDAQ:CTLP) was downgraded by stock analysts at Barrington Research from a “strong-buy” rating to a “strong sell” rating in a report released on Monday, Marketbeat Ratings reports.

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

Cantaloupe Trading Down 0.1%

Shares of CTLP stock traded down $0.02 during trading hours on Monday, hitting $10.98. The company had a trading volume of 1,200,397 shares, compared to its average volume of 563,530. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.81 and a quick ratio of 1.12. The stock has a market capitalization of $801.81 million, a PE ratio of 54.88 and a beta of 1.09. The company’s fifty day moving average is $8.32 and its 200 day moving average is $8.72. Cantaloupe has a fifty-two week low of $5.82 and a fifty-two week high of $11.36.

Cantaloupe (NASDAQ:CTLP) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Cantaloupe had a return on equity of 8.36% and a net margin of 5.40%. The firm had revenue of $75.43 million for the quarter, compared to analyst estimates of $79.83 million. Research analysts expect that Cantaloupe will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cantaloupe

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC increased its stake in shares of Cantaloupe by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 16,449 shares of the technology company’s stock worth $156,000 after buying an additional 5,412 shares during the period. Renaissance Technologies LLC increased its position in shares of Cantaloupe by 18.8% in the 4th 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. raised its holdings in shares of Cantaloupe by 8.2% in the 4th 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 stake in shares of Cantaloupe during the 4th quarter worth $821,000. Finally, Nuveen Asset Management LLC lifted its position in shares of Cantaloupe by 102.7% during the 4th quarter. Nuveen Asset Management LLC now owns 900,201 shares of the technology company’s stock worth $8,561,000 after purchasing an additional 456,199 shares during the last quarter. Hedge funds and other institutional investors own 75.75% of the company’s stock.

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.