CPS Technologies (NASDAQ:CPSH) Rating Lowered to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded CPS Technologies (NASDAQ:CPSH) from a hold to a Strong Sell, and other firms including Weiss Ratings and Wall Street Zen have recently cut their ratings, leaving a MarketBeat consensus of "Reduce" with a consensus target price of $6.00.
• The company missed quarterly estimates, reporting EPS of ($0.02) vs. $0.01 expected and revenue of $7.03M vs. $8.63M estimated.
• Shares opened at $3.75 (12‑month range $1.65–$6.85), the market cap is about $67.5M with a P/E of 125, and roughly 11.18% of the stock is held by institutional investors after several hedge funds added new positions.

CPS Technologies (NASDAQ:CPSH - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Wednesday,Zacks.com reports.

Several other analysts have also recently weighed in on CPSH. Weiss Ratings cut shares of CPS Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday. Wall Street Zen cut shares of CPS Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $6.00.

CPS Technologies Stock Up 3.6%

Shares of CPS Technologies stock opened at $3.75 on Wednesday. CPS Technologies has a twelve month low of $1.65 and a twelve month high of $6.85. The company has a 50-day simple moving average of $4.32 and a two-hundred day simple moving average of $4.10. The stock has a market capitalization of $67.53 million, a price-to-earnings ratio of 125.00 and a beta of 1.77.

CPS Technologies (NASDAQ:CPSH - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The electronics maker reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.03). CPS Technologies had a return on equity of 0.16% and a net margin of 0.10%.The business had revenue of $7.03 million during the quarter, compared to analyst estimates of $8.63 million. On average, sell-side analysts anticipate that CPS Technologies will post 0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CPS Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in CPSH. Polar Asset Management Partners Inc. acquired a new position in shares of CPS Technologies in the 4th quarter valued at approximately $1,022,000. MYDA Advisors LLC acquired a new position in shares of CPS Technologies in the 4th quarter valued at approximately $865,000. CIBC Bancorp USA Inc. acquired a new position in shares of CPS Technologies in the 3rd quarter valued at approximately $789,000. Perkins Capital Management Inc. acquired a new position in shares of CPS Technologies in the 4th quarter valued at approximately $624,000. Finally, Kennedy Capital Management LLC acquired a new position in shares of CPS Technologies in the 4th quarter valued at approximately $588,000. 11.18% of the stock is currently owned by institutional investors and hedge funds.

About CPS Technologies

CPS Technologies Corp is a materials technology company specializing in the design and manufacture of advanced engineered composites and metal systems. The company develops bonded metal components, high-performance polymer composites and ceramic-to-metal brazed assemblies that address the demanding requirements of high-temperature, high-stress and high-frequency applications. CPS Technologies' product portfolio includes thermal management solutions, electromagnetic interference (EMI) shielding materials, structural composites and electronic packaging substrates tailored for critical end markets.

Serving the aerospace, defense, electronics and energy industries, CPS Technologies works closely with original equipment manufacturers and system integrators to deliver custom materials solutions that reduce weight, improve thermal efficiency and enhance mechanical performance.

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