Cantaloupe (NASDAQ:CTLP) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Cantaloupe (NASDAQ:CTLP) to a hold rating in a research report released on Saturday morning.

Several other research firms have also commented on CTLP. Zacks Research raised shares of Cantaloupe from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Weiss Ratings upgraded Cantaloupe from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Cantaloupe presently has a consensus rating of “Hold” and an average price target of $12.73.

Cantaloupe Price Performance

Shares of NASDAQ CTLP opened at $10.27 on Friday. Cantaloupe has a 52 week low of $7.01 and a 52 week high of $11.36. The business’s 50 day moving average price is $10.62 and its 200 day moving average price is $10.66. The company has a quick ratio of 1.31, a current ratio of 1.92 and a debt-to-equity ratio of 0.14. The firm has a market cap of $757.10 million, a P/E ratio of 57.06 and a beta of 1.09.

Cantaloupe (NASDAQ:CTLP) last posted its quarterly earnings results on Friday, February 6th. The technology company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The business had revenue of $78.71 million for the quarter, compared to analysts’ expectations of $84.92 million. Cantaloupe had a return on equity of 8.76% and a net margin of 17.32%. On average, sell-side analysts expect that Cantaloupe will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Cantaloupe

Several institutional investors and hedge funds have recently modified their holdings of CTLP. Jane Street Group LLC purchased a new position in Cantaloupe during the first quarter worth approximately $731,000. AlphaQuest LLC raised its stake in shares of Cantaloupe by 164.5% during the 2nd quarter. AlphaQuest LLC now owns 47,851 shares of the technology company’s stock worth $526,000 after buying an additional 29,757 shares during the period. Wolverine Asset Management LLC purchased a new position in shares of Cantaloupe during the 2nd quarter valued at approximately $1,906,000. Versor Investments LP acquired a new stake in Cantaloupe in the 2nd quarter valued at $3,901,000. Finally, Alpine Associates Management Inc. purchased a new stake in Cantaloupe in the 2nd quarter worth $12,053,000. Hedge funds and other institutional investors own 75.75% of the company’s stock.

About Cantaloupe

Cantaloupe, Inc (NASDAQ: CTLP), formerly known as USA Technologies, is a provider of cashless payment and point-of-sale solutions for the unattended retail market. The company develops and distributes IoT-enabled hardware and software that enable vending machines, kiosks, micro markets, laundry machines and other self-service devices to accept credit and debit cards, mobile wallets and contactless payments. Its ePort® terminals integrate with back-end systems to process transactions securely and comply with the latest EMV and PCI standards.

At the core of Cantaloupe’s offering is its cloud-based ePort Connect® platform, which facilitates real-time remote monitoring, device management and data analytics.