CSP (NASDAQ:CSPI) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of CSP (NASDAQ:CSPI) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of CSP in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, CSP has a consensus rating of “Hold”.

CSP Trading Up 7.3%

NASDAQ CSPI opened at $9.86 on Friday. CSP has a 12-month low of $8.89 and a 12-month high of $20.39. The company has a fifty day simple moving average of $11.98 and a two-hundred day simple moving average of $11.85. The stock has a market cap of $97.71 million, a P/E ratio of -197.20 and a beta of 0.73.

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

CSP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Thursday, February 26th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, February 26th. CSP’s dividend payout ratio (DPR) is currently -240.00%.

Institutional Investors Weigh In On CSP

Several hedge funds have recently modified their holdings of CSPI. Geode Capital Management LLC increased its position in shares of 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 buying an additional 83,999 shares in the last quarter. Visionary Wealth Advisors lifted 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. Segall Bryant & Hamill LLC grew its stake in CSP by 100.2% in the 4th quarter. Segall Bryant & Hamill LLC now owns 38,448 shares of the information technology services provider’s stock valued at $481,000 after acquiring an additional 19,244 shares during the period. Squarepoint Ops LLC purchased a new stake in CSP in the 3rd quarter worth $157,000. Finally, Goldman Sachs Group Inc. increased its holdings in CSP by 66.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 29,800 shares of the information technology services provider’s stock worth $457,000 after acquiring an additional 11,850 shares in the last quarter. 26.74% of the stock is owned by hedge funds and other institutional investors.

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.