CSP (NASDAQ:CSPI) Shares Pass Below 200 Day Moving Average – Time to Sell?

Shares of CSP Inc. (NASDAQ:CSPI) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.96 and traded as low as $11.12. CSP shares last traded at $11.49, with a volume of 36,021 shares.

Analyst Upgrades and Downgrades

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

CSP Trading Down 0.9%

The company has a market capitalization of $113.75 million, a PE ratio of -1,149.00 and a beta of 0.68. The business’s 50-day simple moving average is $12.35 and its two-hundred day simple moving average is $11.96.

CSP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Friday, December 26th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, December 26th. This represents a $0.12 annualized dividend and a dividend yield of 1.0%. CSP’s dividend payout ratio (DPR) is -1,200.00%.

Institutional Trading of CSP

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE lifted its position in shares of CSP by 3,943.3% in the second 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 in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in CSP in the 2nd quarter valued at approximately $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in CSP in the 2nd quarter worth approximately $49,000. Raymond James Financial Inc. acquired a new stake in shares of CSP during the 2nd quarter valued at $91,000. Finally, New York State Common Retirement Fund purchased a new position in shares of CSP during the 2nd quarter valued at $122,000. 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.