Short Interest in CSP Inc. (NASDAQ:CSPI) Increases By 16.6%

CSP Inc. (NASDAQ:CSPI) saw a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 268,981 shares, a growth of 16.6% from the February 12th total of 230,723 shares. Based on an average trading volume of 27,360 shares, the short-interest ratio is currently 9.8 days. Approximately 3.2% of the shares of the company are sold short. Approximately 3.2% of the shares of the company are sold short. Based on an average trading volume of 27,360 shares, the short-interest ratio is currently 9.8 days.

CSP Trading Down 6.0%

CSPI stock opened at $8.32 on Thursday. The firm has a 50 day moving average of $10.14 and a 200-day moving average of $11.44. CSP has a 12-month low of $8.04 and a 12-month high of $17.94. The company has a market cap of $82.45 million, a price-to-earnings ratio of -166.40 and a beta of 0.80.

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

CSP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th were issued a $0.03 dividend. The ex-dividend date of this dividend was 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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its stake in CSP by 3,943.3% in 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 purchasing an additional 2,366 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of CSP during the 2nd quarter worth about $33,000. Geode Capital Management LLC boosted its stake in shares of CSP by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 163,385 shares of the information technology services provider’s stock worth $2,043,000 after purchasing an additional 2,739 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of CSP by 72.6% during the fourth quarter. Wells Fargo & Company MN now owns 7,618 shares of the information technology services provider’s stock worth $95,000 after buying an additional 3,204 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of CSP by 14.4% during the second quarter. JPMorgan Chase & Co. now owns 26,079 shares of the information technology services provider’s stock worth $337,000 after buying an additional 3,279 shares in the last quarter. Institutional investors and hedge funds own 26.74% of the company’s stock.

Analyst Upgrades and Downgrades

CSPI has been the topic of a number of analyst reports. Weiss Ratings lowered CSP from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, February 17th. Wall Street Zen downgraded CSP from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

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.