Cantaloupe (NASDAQ:CTLP) Stock Passes Above 200 Day Moving Average – Should You Sell?

Cantaloupe, Inc. (NASDAQ:CTLP) shares crossed 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 Analyst Weigh In

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

Cantaloupe Stock Performance

The stock has a market cap of $607.24 million, a P/E ratio of 48.94 and a beta of 1.64. The firm has a 50 day moving average of $9.25 and a two-hundred day moving average of $8.01. 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 posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $70.84 million during the quarter, compared to analysts’ expectations of $70.54 million. Cantaloupe had a return on equity of 7.53% and a net margin of 4.90%. During the same period in the prior year, the business earned $0.02 earnings per share. On average, research analysts predict that Cantaloupe, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new position in Cantaloupe during the third quarter valued at about $26,000. Quantbot Technologies LP increased 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 purchasing an additional 3,975 shares during the period. Intech Investment Management LLC acquired a new position in shares of Cantaloupe in the third quarter valued at $119,000. GSA Capital Partners LLP bought a new position in Cantaloupe in the third quarter worth $153,000. Finally, Virtu Financial LLC acquired a new stake in Cantaloupe during the third quarter worth $156,000. Institutional investors own 75.75% of the company’s stock.

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.