Short Interest in CSP Inc. (NASDAQ:CSPI) Decreases By 15.8%

CSP Inc. (NASDAQ:CSPI – Get Rating) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 1,600 shares, a drop of 15.8% from the June 30th total of 1,900 shares. Based on an average trading volume of 7,100 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the shares of the company are sold short.

CSP Stock Down 2.2 %

Shares of NASDAQ CSPI opened at $7.70 on Friday. The company has a quick ratio of 2.93, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. CSP has a 52 week low of $6.61 and a 52 week high of $10.46. The firm has a 50-day moving average price of $8.71 and a 200 day moving average price of $8.04. The stock has a market capitalization of $34.90 million, a price-to-earnings ratio of 256.75 and a beta of 1.38.

CSP (NASDAQ:CSPI – Get Rating) last announced its quarterly earnings data on Wednesday, May 11th. The information technology services provider reported $0.03 EPS for the quarter. CSP had a net margin of 0.29% and a negative return on equity of 0.98%. The firm had revenue of $11.98 million during the quarter.

Insider Transactions at CSP

In other news, insider Joseph R. Nerges bought 4,500 shares of CSP stock in a transaction dated Friday, June 10th. The stock was bought at an average price of $9.30 per share, for a total transaction of $41,850.00. Following the purchase, the insider now owns 501,923 shares of the company’s stock, valued at $4,667,883.90. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Joseph R. Nerges bought 3,500 shares of CSP stock in a transaction dated Wednesday, May 18th. The stock was bought at an average price of $7.74 per share, for a total transaction of $27,090.00. Following the purchase, the insider now owns 469,093 shares of the company’s stock, valued at $3,630,779.82. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joseph R. Nerges acquired 4,500 shares of CSP stock in a transaction that occurred on Friday, June 10th. The stock was bought at an average price of $9.30 per share, with a total value of $41,850.00. Following the purchase, the insider now directly owns 501,923 shares of the company’s stock, valued at $4,667,883.90. The disclosure for this purchase can be found here. In the last quarter, insiders bought 15,763 shares of company stock worth $139,064. Company insiders own 12.90% of the company’s stock.

Institutional Trading of CSP

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp acquired a new position in CSP during the first quarter worth about $80,000. Visionary Wealth Advisors raised its position in CSP by 0.9% during the first quarter. Visionary Wealth Advisors now owns 273,002 shares of the information technology services provider’s stock worth $2,151,000 after acquiring an additional 2,369 shares during the last quarter. JPMorgan Chase & Co. raised its position in CSP by 100.0% during the first quarter. JPMorgan Chase & Co. now owns 4,000 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in CSP by 14.5% during the first quarter. Mercer Global Advisors Inc. ADV now owns 39,389 shares of the information technology services provider’s stock worth $307,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 24.36% of the company’s stock.

About CSP

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CSP Inc develops and markets IT integration solutions, security products, managed IT 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.