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

Shares of CSP Inc. (NASDAQ:CSPI) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.93 and traded as high as $12.00. CSP shares last traded at $11.59, with a volume of 12,608 shares changing hands.

Analyst Upgrades and Downgrades

CSPI has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of CSP to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of CSP in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

CSP Trading Up 2.3%

The stock has a market cap of $114.74 million, a PE ratio of -1,159.00 and a beta of 0.68. The firm has a fifty day simple moving average of $12.25 and a two-hundred day simple moving average of $11.93.

CSP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Friday, December 26th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, December 26th. CSP’s dividend payout ratio (DPR) is currently -1,200.00%.

Hedge Funds Weigh In On CSP

A number of institutional investors have recently made changes to their positions in CSPI. Visionary Wealth Advisors raised its position in shares of CSP by 5.7% during the 2nd quarter. Visionary Wealth Advisors now owns 740,187 shares of the information technology services provider’s stock valued at $9,578,000 after buying an additional 39,738 shares in the last quarter. Geode Capital Management LLC increased its stake in CSP by 113.0% in the second quarter. Geode Capital Management LLC now owns 158,355 shares of the information technology services provider’s stock valued at $2,049,000 after acquiring an additional 83,999 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in CSP by 66.0% in 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 acquiring an additional 11,850 shares during the last quarter. Jane Street Group LLC raised its position in CSP by 73.4% during the first quarter. Jane Street Group LLC now owns 27,640 shares of the information technology services provider’s stock valued at $424,000 after purchasing an additional 11,703 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in 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 purchasing an additional 3,279 shares during the last quarter. 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.