CSP (NASDAQ:CSPI) Stock Price Passes Above 200-Day Moving Average – Here’s Why

CSP Inc. (NASDAQ:CSPI) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.45 and traded as high as $16.36. CSP shares last traded at $15.78, with a volume of 21,873 shares changing hands.

CSP Price Performance

The business has a 50-day simple moving average of $15.93 and a 200 day simple moving average of $14.45. The firm has a market cap of $155.95 million, a PE ratio of -315.54 and a beta of 1.44.

CSP (NASDAQ:CSPI) last issued its earnings results on Friday, December 20th. The information technology services provider reported ($0.18) earnings per share for the quarter. CSP had a negative return on equity of 0.91% and a negative net margin of 0.78%.

CSP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 27th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Friday, December 27th. CSP’s payout ratio is presently -240.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC increased its stake in CSP by 3.7% during the second quarter. Renaissance Technologies LLC now owns 442,226 shares of the information technology services provider’s stock worth $6,589,000 after acquiring an additional 15,800 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of CSP by 122.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 197,556 shares of the information technology services provider’s stock valued at $2,944,000 after acquiring an additional 108,778 shares during the period. Apis Capital Advisors LLC lifted its holdings in shares of CSP by 50.0% in the 2nd quarter. Apis Capital Advisors LLC now owns 36,000 shares of the information technology services provider’s stock worth $536,000 after acquiring an additional 12,000 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of CSP during the 2nd quarter worth about $503,000. Finally, Barclays PLC bought a new position in CSP during the 3rd quarter valued at about $104,000. 26.74% of the stock is currently owned by institutional investors.

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.