Cantaloupe, Inc. (NASDAQ:CTLP) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Cantaloupe, Inc. (NASDAQ:CTLP) have received an average rating of “Reduce” from the eight research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $12.7333.

A number of analysts recently commented on the stock. Zacks Research raised shares of Cantaloupe from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cantaloupe in a research report on Monday, December 29th.

Cantaloupe Trading Up 0.1%

Shares of Cantaloupe stock opened at $10.71 on Friday. The firm has a market cap of $789.33 million, a price-to-earnings ratio of 51.00 and a beta of 1.10. Cantaloupe has a 52-week low of $7.01 and a 52-week high of $11.36. The company’s 50-day simple moving average is $10.61 and its 200-day simple moving average is $10.76. The company has a quick ratio of 1.28, a current ratio of 1.81 and a debt-to-equity ratio of 0.14.

Institutional Investors Weigh In On Cantaloupe

A number of large investors have recently added to or reduced their stakes in CTLP. SG Americas Securities LLC increased its holdings in Cantaloupe by 1,215.2% during the 4th quarter. SG Americas Securities LLC now owns 306,943 shares of the technology company’s stock valued at $3,260,000 after acquiring an additional 283,604 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Cantaloupe by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 172,741 shares of the technology company’s stock valued at $1,826,000 after purchasing an additional 5,130 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Cantaloupe in the third quarter valued at approximately $16,433,000. Acuitas Investments LLC increased its stake in shares of Cantaloupe by 29.4% during the 3rd quarter. Acuitas Investments LLC now owns 205,645 shares of the technology company’s stock worth $2,174,000 after purchasing an additional 46,700 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Cantaloupe during the 3rd quarter worth approximately $3,173,000. 75.75% of the stock is owned by institutional investors and hedge funds.

Cantaloupe Company Profile

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.