Short Interest in CSP Inc. (NASDAQ:CSPI) Decreases By 64.0%

CSP Inc. (NASDAQ:CSPI) saw a significant drop in short interest in June. As of June 30th, there was short interest totaling 81,735 shares, a drop of 64.0% from the June 15th total of 226,922 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average trading volume of 125,462 shares, the short-interest ratio is presently 0.7 days.

CSP Price Performance

NASDAQ CSPI traded down $0.07 during trading on Tuesday, hitting $8.21. The company’s stock had a trading volume of 5,167 shares, compared to its average volume of 28,116. CSP has a fifty-two week low of $7.51 and a fifty-two week high of $15.00. The company has a market cap of $82.62 million, a PE ratio of -820.50 and a beta of 0.84. The business’s 50 day simple moving average is $8.98 and its 200-day simple moving average is $9.63.

CSP (NASDAQ:CSPI) last posted its quarterly earnings data on Thursday, May 7th. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter. The firm had revenue of $16.01 million for the quarter. CSP had a negative net margin of 0.20% and a negative return on equity of 0.25%.

CSP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Thursday, May 21st were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, May 21st. CSP’s payout ratio is currently -1,200.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its holdings in shares of CSP by 66.0% during the first quarter. Goldman Sachs Group Inc. now owns 29,800 shares of the information technology services provider’s stock valued at $457,000 after buying an additional 11,850 shares during the last quarter. Jane Street Group LLC raised its stake in CSP by 73.4% in the 1st quarter. Jane Street Group LLC now owns 27,640 shares of the information technology services provider’s stock worth $424,000 after acquiring an additional 11,703 shares during the last quarter. Geode Capital Management LLC lifted its position in CSP by 113.0% during the 2nd quarter. Geode Capital Management LLC now owns 158,355 shares of the information technology services provider’s stock worth $2,049,000 after acquiring an additional 83,999 shares during the period. JPMorgan Chase & Co. lifted its position in CSP by 14.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 26,079 shares of the information technology services provider’s stock worth $337,000 after acquiring an additional 3,279 shares during the period. Finally, New York State Common Retirement Fund purchased a new stake in CSP during the 2nd quarter valued at about $122,000. Hedge funds and other institutional investors own 26.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised CSP from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

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.