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

CSP Inc. (NASDAQ:CSPI)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.72 and traded as low as $8.14. CSP shares last traded at $8.64, with a volume of 20,786 shares traded.

Analyst Upgrades and Downgrades

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

CSP Stock Up 5.0%

The firm’s 50 day simple moving average is $9.07 and its two-hundred day simple moving average is $9.72. The stock has a market cap of $87.00 million, a P/E ratio of -864.00 and a beta of 0.84.

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

CSP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, May 21st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, May 21st. CSP’s dividend payout ratio is currently -1,200.00%.

Hedge Funds Weigh In On CSP

Large investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in 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 valued at $31,000 after acquiring an additional 2,366 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of CSP during the 2nd quarter worth approximately $49,000. Raymond James Financial Inc. bought a new stake in shares of CSP in the 2nd quarter worth approximately $91,000. Wells Fargo & Company MN lifted its holdings in shares of CSP by 72.6% in the 4th quarter. Wells Fargo & Company MN now owns 7,618 shares of the information technology services provider’s stock worth $95,000 after purchasing an additional 3,204 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new stake in shares of CSP in the 2nd quarter worth approximately $122,000. Institutional investors 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.