CSP Inc. (NASDAQ:CSPI) Short Interest Up 16.6% in February

CSP Inc. (NASDAQ:CSPI) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 268,981 shares, an increase of 16.6% from the February 12th total of 230,723 shares. Based on an average daily volume of 27,360 shares, the days-to-cover ratio is presently 9.8 days. Approximately 3.2% of the shares of the stock are short sold. Approximately 3.2% of the shares of the stock are short sold. Based on an average daily volume of 27,360 shares, the days-to-cover ratio is presently 9.8 days.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CSPI shares. Wall Street Zen downgraded shares of CSP from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Weiss Ratings downgraded CSP from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, February 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Trading of CSP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSPI. Goldman Sachs Group Inc. raised its holdings in CSP by 66.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 29,800 shares of the information technology services provider’s stock worth $457,000 after purchasing an additional 11,850 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of 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 valued at $424,000 after purchasing an additional 11,703 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of CSP by 113.0% during the second quarter. Geode Capital Management LLC now owns 158,355 shares of the information technology services provider’s stock worth $2,049,000 after buying an additional 83,999 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of CSP during the second quarter worth approximately $33,000. Finally, JPMorgan Chase & Co. lifted its holdings in 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. 26.74% of the stock is currently owned by institutional investors and hedge funds.

CSP Stock Down 0.3%

Shares of NASDAQ CSPI opened at $8.82 on Tuesday. CSP has a 12-month low of $8.04 and a 12-month high of $17.94. The firm’s 50-day simple moving average is $10.25 and its 200 day simple moving average is $11.49. The company has a market cap of $87.36 million, a price-to-earnings ratio of -176.30 and a beta of 0.80.

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

CSP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, February 26th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.4%. CSP’s dividend payout ratio (DPR) is currently -240.00%.

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.