CSP (NASDAQ:CSPI) Stock Price Crosses Above 200 Day Moving Average of $13.81

CSP Inc. (NASDAQ:CSPI)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.81 and traded as high as $14.52. CSP shares last traded at $14.33, with a volume of 64,460 shares traded.

Wall Street Analysts Forecast Growth

CSPI has been the subject of several recent research reports. TheStreet downgraded shares of CSP from a “b-” rating to a “c” rating in a research note on Thursday, February 15th. StockNews.com cut shares of CSP from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th.

CSP Stock Up 3.3 %

The business’s 50-day simple moving average is $19.32 and its 200-day simple moving average is $13.81. The stock has a market cap of $139.14 million, a PE ratio of 32.94 and a beta of 1.24.

CSP (NASDAQ:CSPI) last released its quarterly earnings data on Wednesday, February 14th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter. CSP had a net margin of 6.33% and a return on equity of 8.76%. The firm had revenue of $15.38 million during the quarter.

CSP Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Monday, February 26th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, February 23rd. CSP’s dividend payout ratio is currently 22.99%.

Insider Activity at CSP

In related news, insider Joseph R. Nerges purchased 1,940 shares of CSP stock in a transaction that occurred on Monday, March 11th. The shares were bought at an average price of $17.97 per share, for a total transaction of $34,852.10. Following the completion of the transaction, the insider now directly owns 1,335,366 shares of the company’s stock, valued at $23,989,850.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 3,140 shares of company stock worth $57,400 over the last 90 days. 15.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On CSP

Several hedge funds and other institutional investors have recently modified their holdings of CSPI. Navellier & Associates Inc. purchased a new position in shares of CSP during the third quarter valued at about $367,000. EAM Investors LLC purchased a new position in shares of CSP during the third quarter valued at about $1,383,000. Finally, Visionary Wealth Advisors increased its position in shares of CSP by 0.6% during the third quarter. Visionary Wealth Advisors now owns 284,040 shares of the information technology services provider’s stock valued at $4,971,000 after buying an additional 1,722 shares during the period. Hedge funds and other institutional investors 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.