CSP (NASDAQ:CSPI) Shares Pass Above 200 Day Moving Average – What’s Next?

Shares of CSP Inc. (NASDAQ:CSPI) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.94 and traded as high as $14.31. CSP shares last traded at $12.65, with a volume of 79,341 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of CSP in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

CSP Trading Down 15.4%

The firm has a 50-day moving average of $12.15 and a two-hundred day moving average of $11.94. The firm has a market capitalization of $124.73 million, a P/E ratio of -74.41 and a beta of 0.67.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CSPI. Bank of America Corp DE boosted its holdings 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 valued at $31,000 after acquiring an additional 2,366 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in CSP in the second quarter valued at about $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of CSP during the second quarter valued at about $49,000. Raymond James Financial Inc. bought a new stake in shares of CSP during the second quarter worth about $91,000. Finally, New York State Common Retirement Fund acquired a new position in shares of CSP in the second quarter valued at approximately $122,000. 26.74% of the stock is currently 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.