CSP (NASDAQ:CSPI) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

CSP Inc. (NASDAQ:CSPI)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.80 and traded as low as $8.63. CSP shares last traded at $8.87, with a volume of 38,813 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Weiss Ratings lowered shares of CSP from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 17th. Wall Street Zen cut CSP from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

CSP Price Performance

The business’s 50-day moving average is $11.42 and its two-hundred day moving average is $11.80. The firm has a market cap of $87.90 million, a P/E ratio of -177.40 and a beta of 0.73.

CSP (NASDAQ:CSPI) last issued its quarterly earnings results on Thursday, February 12th. The information technology services provider reported $0.01 EPS for the quarter. The firm had revenue of $12.04 million for the quarter. CSP had a negative net margin of 0.87% and a negative return on equity of 1.04%.

CSP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 26th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, February 26th. This represents a $0.12 annualized dividend and a yield of 1.4%. CSP’s dividend payout ratio is -240.00%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CSPI. Geode Capital Management LLC boosted its holdings in shares of CSP by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 163,385 shares of the information technology services provider’s stock valued at $2,043,000 after buying an additional 2,739 shares during the last quarter. Segall Bryant & Hamill LLC raised its position in CSP by 100.2% during the fourth quarter. Segall Bryant & Hamill LLC now owns 38,448 shares of the information technology services provider’s stock worth $481,000 after acquiring an additional 19,244 shares in the last quarter. Goldman Sachs Group Inc. raised its position in CSP by 66.0% during the first quarter. Goldman Sachs Group Inc. now owns 29,800 shares of the information technology services provider’s stock worth $457,000 after acquiring an additional 11,850 shares in the last quarter. Jane Street Group LLC lifted its stake in CSP by 73.4% in the first quarter. Jane Street Group LLC now owns 27,640 shares of the information technology services provider’s stock valued at $424,000 after acquiring an additional 11,703 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of CSP by 14.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 26,079 shares of the information technology services provider’s stock valued at $337,000 after acquiring an additional 3,279 shares during the period. Institutional investors and hedge funds own 26.74% of the company’s stock.

CSP Company Profile

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.