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

Cantaloupe, Inc. (NASDAQ:CTLP)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Benchmark increased their price objective on shares of Cantaloupe from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Northland Securities increased their price objective on shares of Cantaloupe from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Barrington Research reiterated an “outperform” rating and issued a $10.00 price objective on shares of Cantaloupe in a research note on Monday, November 4th.

Cantaloupe Stock Down 2.1 %

The company’s fifty day moving average is $9.27 and its 200-day moving average is $8.00. The company 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 released its earnings results on Thursday, November 7th. The technology company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $70.84 million during the quarter, compared to analyst estimates of $70.54 million. Cantaloupe had a net margin of 4.90% and a return on equity of 7.53%. During the same period in the prior year, the firm posted $0.02 EPS. As a group, analysts predict that Cantaloupe, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Cantaloupe

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTLP. Quarry LP purchased a new stake in Cantaloupe in the 3rd quarter worth approximately $26,000. Quantbot Technologies LP raised its position in shares of Cantaloupe by 34.0% during the third quarter. Quantbot Technologies LP now owns 15,664 shares of the technology company’s stock valued at $116,000 after buying an additional 3,975 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Cantaloupe during the third quarter valued at approximately $119,000. GSA Capital Partners LLP bought a new stake in shares of Cantaloupe during the third quarter valued at approximately $153,000. Finally, Virtu Financial LLC bought a new stake in shares of Cantaloupe during the third quarter valued at approximately $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.