CSP (NASDAQ:CSPI) Shares Break Above Fifty Day Moving Average – Here’s What Happened

CSP Inc. (NASDAQ:CSPI)’s share price crossed 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.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered CSP from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 24th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, CSP has an average rating of “Sell”.

CSP Price Performance

The business’s 50 day moving average is $7.65 and its two-hundred day moving average is $8.73. The firm has a market capitalization of $78.02 million, a PE ratio of -110.56 and a beta of 0.87.

CSP (NASDAQ:CSPI) last released its quarterly earnings results on Friday, August 14th. The information technology services provider reported ($0.09) 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 during the quarter.

CSP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 28th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.12 annualized dividend and a yield of 1.6%. CSP’s dividend payout ratio is currently -171.43%.

Institutional Trading of CSP

Institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC bought a new position in shares of CSP during the second quarter valued at about $196,000. Susquehanna International Group LLP bought a new stake in shares of CSP in the 2nd quarter valued at about $233,000. Bank of New York Mellon Corp bought a new stake in shares of CSP in the 2nd quarter valued at about $364,000. BlackRock Inc. bought a new stake in shares of CSP in the 2nd quarter valued at about $512,000. Finally, Visionary Wealth Advisors purchased a new position in CSP in the 2nd quarter worth approximately $6,361,000. 26.74% of the stock is currently owned by hedge funds and other institutional investors.

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.