CSP (NASDAQ:CSPI) Rating Increased to Hold at Wall Street Zen

CSP (NASDAQ:CSPI) was upgraded by stock analysts at Wall Street Zen to a “hold” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of CSP in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

CSP Stock Performance

CSPI opened at $11.66 on Friday. The company has a 50-day moving average of $12.24 and a 200-day moving average of $11.96. The company has a market capitalization of $115.43 million, a P/E ratio of -1,166.00 and a beta of 0.68. CSP has a 1-year low of $9.65 and a 1-year high of $21.95.

Hedge Funds Weigh In On CSP

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its position in shares of CSP by 3,943.3% during the 2nd quarter. Bank of America Corp DE now owns 2,426 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 2,366 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new position in CSP during the 2nd quarter worth $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in CSP in the second quarter worth $49,000. Raymond James Financial Inc. bought a new stake in CSP in the second quarter valued at $91,000. Finally, New York State Common Retirement Fund bought a new stake in CSP in the second quarter valued at $122,000. 26.74% of the stock is owned by institutional investors.

About CSP

CSP Inc develops and markets IT integration solutions, security products, managed IT services, cloud services, purpose-built network adapters, and cluster computer systems for commercial and defense customers worldwide. It operates in two segments, Technology Solutions and High Performance Products. The Technology Solutions segment provides third-party computer hardware and software as a value-added reseller to various customers in web and infrastructure hosting, education, telecommunications, healthcare services, distribution, financial and professional services, and manufacturing industries.