CSP Inc. (NASDAQ:CSPI) Sees Significant Decline in Short Interest

CSP Inc. (NASDAQ:CSPI - Get Free Report) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 177,500 shares, a drop of 12.7% from the April 30th total of 203,300 shares. Based on an average daily volume of 24,800 shares, the days-to-cover ratio is currently 7.2 days. Approximately 2.2% of the company's shares are sold short.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp acquired a new stake in shares of CSP in the first quarter valued at $186,000. Jane Street Group LLC acquired a new position in CSP in the 4th quarter valued at about $256,000. 683 Capital Management LLC acquired a new position in CSP in the 4th quarter valued at about $321,000. Goldman Sachs Group Inc. increased its stake in CSP by 66.0% during the first quarter. Goldman Sachs Group Inc. now owns 29,800 shares of the information technology services provider's stock worth $457,000 after purchasing an additional 11,850 shares during the period. Finally, Millennium Management LLC lifted its position in shares of CSP by 19.5% during the fourth quarter. Millennium Management LLC now owns 28,570 shares of the information technology services provider's stock worth $459,000 after purchasing an additional 4,659 shares in the last quarter. 26.74% of the stock is currently owned by institutional investors and hedge funds.

CSP Trading Down 4.0%

CSPI traded down $0.55 on Friday, hitting $13.31. The company had a trading volume of 33,380 shares, compared to its average volume of 31,190. The company's fifty day moving average price is $15.25 and its 200 day moving average price is $16.33. CSP has a 1 year low of $10.76 and a 1 year high of $21.95. The firm has a market cap of $131.28 million, a P/E ratio of 1,332.33 and a beta of 0.91.

CSP (NASDAQ:CSPI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The information technology services provider reported ($0.01) earnings per share for the quarter. CSP had a net margin of 0.14% and a return on equity of 0.17%.

CSP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Wednesday, May 28th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Wednesday, May 28th. CSP's payout ratio is -75.00%.

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.