CSP Inc. (NASDAQ:CSPI) Short Interest Update

Key Points

• CSP Inc. saw a sharp drop in short interest in June, falling 64.0% to 81,735 shares as of June 30. That equals about 1.0% of shares outstanding and a days-to-cover ratio of 0.7 days.
• The stock remains under a Sell consensus from analysts, with Weiss Ratings recently nudging its view from “sell (d)” to “sell (d+).” Only one analyst is currently cited as covering the stock with a sell rating.
• CSP recently paid a quarterly dividend of $0.03 per share, which works out to a 1.4% annualized yield. The company also reported quarterly EPS of $0.03 on revenue of $16.01 million in its latest earnings release.

CSP Inc. (NASDAQ:CSPI - Get Free Report) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 81,735 shares, a decrease of 64.0% from the June 15th total of 226,922 shares. Based on an average daily trading volume, of 125,462 shares, the days-to-cover ratio is currently 0.7 days. Currently, 1.0% of the company's shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised CSP from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Sell".

CSP Price Performance

Shares of CSP stock opened at $8.70 on Monday. The company has a market capitalization of $87.61 million, a P/E ratio of -870.00 and a beta of 0.84. The business has a 50-day moving average of $9.00 and a two-hundred day moving average of $9.66. CSP has a 1 year low of $7.51 and a 1 year high of $15.00.

CSP (NASDAQ:CSPI - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $16.01 million during the quarter. CSP had a negative return on equity of 0.25% and a negative net margin of 0.20%.

CSP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, May 21st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Thursday, May 21st. CSP's payout ratio is -1,200.00%.

Institutional Investors Weigh In On CSP

A number of large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in shares of CSP by 3,943.3% during the 2nd quarter. Bank of America Corp DE now owns 2,426 shares of the information technology services provider's stock valued at $31,000 after acquiring an additional 2,366 shares during the period. Geode Capital Management LLC increased its position in shares of CSP by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 163,385 shares of the information technology services provider's stock worth $2,043,000 after purchasing an additional 2,739 shares during the period. Wells Fargo & Company MN increased its position in shares of CSP by 72.6% in the fourth quarter. Wells Fargo & Company MN now owns 7,618 shares of the information technology services provider's stock worth $95,000 after purchasing an additional 3,204 shares during the period. JPMorgan Chase & Co. raised its stake in CSP by 14.4% in the second quarter. JPMorgan Chase & Co. now owns 26,079 shares of the information technology services provider's stock valued at $337,000 after purchasing an additional 3,279 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in CSP in the second quarter valued at about $49,000. Institutional investors and hedge funds own 26.74% of the company's stock.

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.

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