CSP (NASDAQ:CSPI) Share Price Passes Below 200 Day Moving Average – Here’s Why

CSP Inc. (NASDAQ:CSPI)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.80 and traded as low as $8.63. CSP shares last traded at $8.87, with a volume of 38,813 shares.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CSPI. Wall Street Zen cut shares of CSP from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Weiss Ratings downgraded CSP from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

CSP Stock Down 2.6%

The stock has a market cap of $87.90 million, a price-to-earnings ratio of -177.40 and a beta of 0.73. The stock’s fifty day moving average is $11.42 and its 200-day moving average is $11.80.

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

CSP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, February 26th. CSP’s payout ratio is presently -240.00%.

Institutional Investors Weigh In On CSP

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its position in shares of 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 period. Police & Firemen s Retirement System of New Jersey bought a new position in CSP in the second quarter valued at approximately $33,000. Geode Capital Management LLC lifted its stake in CSP by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 163,385 shares of the information technology services provider’s stock valued at $2,043,000 after buying an additional 2,739 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of CSP by 72.6% in the fourth quarter. Wells Fargo & Company MN now owns 7,618 shares of the information technology services provider’s stock valued at $95,000 after buying an additional 3,204 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of CSP by 14.4% in the second quarter. JPMorgan Chase & Co. now owns 26,079 shares of the information technology services provider’s stock valued at $337,000 after buying an additional 3,279 shares during the period. Institutional investors and hedge funds own 26.74% of the company’s stock.

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.