CSP (NASDAQ:CSPI) Stock Breaks Above Fifty Day Moving Average – Here’s Why
by Amy Steele · The Cerbat GemCSP Inc. (NASDAQ:CSPI – Get Free Report) passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $7.65 and traded as high as $7.89. CSP shares last traded at $7.74, with a volume of 16,651 shares changing hands.
Analyst Ratings Changes
Separately, Weiss Ratings lowered shares of CSP from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 24th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, CSP presently has an average rating of “Sell”.
Read Our Latest Report on CSPI
CSP Stock Up 3.6%
The business has a 50-day simple moving average of $7.65 and a two-hundred day simple moving average of $8.73. The company has a market cap of $78.02 million, a price-to-earnings ratio of -110.56 and a beta of 0.87.
CSP (NASDAQ:CSPI – Get Free Report) last released its quarterly earnings results on Friday, August 14th. The information technology services provider reported ($0.09) earnings per share (EPS) for the quarter. CSP had a negative return on equity of 1.56% and a negative net margin of 1.22%. The company had revenue of $14.40 million for the quarter.
CSP Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 28th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, August 28th. CSP’s dividend payout ratio (DPR) is -171.43%.
Hedge Funds Weigh In On CSP
Institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new position in CSP in the 2nd quarter valued at $196,000. Susquehanna International Group LLP bought a new position in CSP in the 2nd quarter worth $233,000. Visionary Wealth Advisors acquired a new position in CSP during the 2nd quarter worth $6,361,000. BlackRock Inc. acquired a new position in CSP during the 2nd quarter worth $512,000. Finally, Bank of New York Mellon Corp bought a new stake in CSP during the second quarter valued at about $364,000. Institutional investors own 26.74% of the company’s stock.
About CSP
CSP Inc (NASDAQ: CSPI) is a technology company that provides information technology solutions and high-performance networking products. The company serves organizations that need infrastructure, cybersecurity, data management, and specialized computing capabilities.
Through its Technology Solutions operations, CSPi offers IT integration, professional services, managed services, cloud-related solutions, and cybersecurity services. Its offerings are designed to help businesses and government organizations deploy, secure, monitor, and maintain technology environments.
CSPi also develops and supplies high-performance networking products under the Myricom brand.
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