CPS Technologies (NASDAQ:CPSH) Stock Price Passes Above 200 Day Moving Average – Here’s Why

CPS Technologies Co. (NASDAQ:CPSH) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.58 and traded as high as $1.62. CPS Technologies shares last traded at $1.55, with a volume of 13,005 shares.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on CPS Technologies in a research report on Wednesday. They set a “hold” rating on the stock.

CPS Technologies Price Performance

The firm’s 50 day moving average is $1.67 and its 200 day moving average is $1.58. The company has a market capitalization of $22.22 million, a PE ratio of -10.93 and a beta of 1.32.

CPS Technologies (NASDAQ:CPSH) last posted its earnings results on Wednesday, March 12th. The electronics maker reported ($0.07) earnings per share (EPS) for the quarter. The business had revenue of $5.93 million for the quarter. CPS Technologies had a negative net margin of 9.12% and a negative return on equity of 12.02%.

Hedge Funds Weigh In On CPS Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in CPS Technologies during the 3rd quarter valued at approximately $26,000. Citadel Advisors LLC lifted its stake in shares of CPS Technologies by 18.3% in the 4th quarter. Citadel Advisors LLC now owns 37,171 shares of the electronics maker’s stock valued at $60,000 after purchasing an additional 5,751 shares during the period. Renaissance Technologies LLC grew its stake in CPS Technologies by 8.6% in the fourth quarter. Renaissance Technologies LLC now owns 86,923 shares of the electronics maker’s stock worth $140,000 after purchasing an additional 6,865 shares during the period. Finally, Geode Capital Management LLC grew its stake in CPS Technologies by 13.2% in the fourth quarter. Geode Capital Management LLC now owns 110,786 shares of the electronics maker’s stock worth $178,000 after purchasing an additional 12,903 shares during the period. Hedge funds and other institutional investors own 11.18% of the company’s stock.

About CPS Technologies

CPS Technologies Corporation provides advanced material solutions to the transportation, automotive, energy, computing/internet, telecommunication, aerospace, defense, and oil and gas markets in the United States, Europe, and Asia. The company offers metal matrix composites such as baseplates for various applications, including motor controllers used in electric trains, subway cars, wind turbines, and hybrid and electric vehicles; hermetic packages for use in radar, satellite, and avionics applications; baseplates and housings used in modules built with wide band gap semiconductors; and lids and heat spreaders for use in internet switches and routers.