Cantaloupe (NASDAQ:CTLP) Shares Cross Above 200-Day Moving Average – Here’s Why

Cantaloupe, Inc. (NASDAQ:CTLP) shares passed 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.

Wall Street Analyst Weigh In

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

Cantaloupe Stock Down 2.1 %

The stock’s 50-day moving average price is $9.27 and its two-hundred day moving average price is $8.00. The stock has a market capitalization of $636.44 million, a PE ratio of 51.30 and a beta of 1.64. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.03 and a current ratio of 1.60.

Cantaloupe (NASDAQ:CTLP) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.04 EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $70.54 million. During the same period in the prior year, the firm posted $0.02 EPS. As a group, analysts expect that Cantaloupe, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Trading of Cantaloupe

Institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new stake in Cantaloupe during the 3rd quarter valued at about $26,000. Quantbot Technologies LP grew its position in Cantaloupe by 34.0% during the 3rd quarter. Quantbot Technologies LP now owns 15,664 shares of the technology company’s stock valued at $116,000 after purchasing an additional 3,975 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Cantaloupe during the 3rd quarter valued at about $119,000. GSA Capital Partners LLP bought a new position in Cantaloupe during the 3rd quarter valued at about $153,000. Finally, Virtu Financial LLC bought a new position in Cantaloupe during the 3rd quarter valued at about $156,000. 75.75% of the stock is owned by hedge funds and other institutional investors.

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.