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CSP (NASDAQ:CSPI) Earns Sell (D+) Rating from Weiss Ratings

CSP logo with Computer and Technology background

Key Points

  • CSP (NASDAQ:CSPI) received a "sell (D+)" rating from Weiss Ratings, indicating bearish sentiment from analysts.
  • Despite the negative rating, CSP's stock experienced a rise of 7.3%, closing at $12.31 on the reporting day.
  • Institutional investors have shown interest, with Geode Capital Management increasing its stake by 113% in the second quarter.
  • MarketBeat previews top five stocks to own in November.

CSP (NASDAQ:CSPI - Get Free Report)'s stock had its "sell (d+)" rating restated by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

CSP Trading Up 7.3%

Shares of CSPI traded up $0.84 during trading hours on Wednesday, hitting $12.31. The company had a trading volume of 18,901 shares, compared to its average volume of 21,352. The company has a market capitalization of $121.38 million, a PE ratio of -72.41 and a beta of 0.73. CSP has a one year low of $9.65 and a one year high of $21.95. The company's fifty day moving average price is $11.71 and its two-hundred day moving average price is $13.12.

CSP (NASDAQ:CSPI - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The information technology services provider reported ($0.03) EPS for the quarter. The company had revenue of $15.45 million during the quarter. CSP had a negative return on equity of 3.35% and a negative net margin of 2.78%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSPI. Geode Capital Management LLC grew its stake in CSP by 113.0% during the 2nd quarter. Geode Capital Management LLC now owns 158,355 shares of the information technology services provider's stock worth $2,049,000 after buying an additional 83,999 shares during the last quarter. Visionary Wealth Advisors grew its stake in CSP by 5.7% during the 2nd quarter. Visionary Wealth Advisors now owns 740,187 shares of the information technology services provider's stock worth $9,578,000 after buying an additional 39,738 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in CSP during the 1st quarter worth $186,000. Goldman Sachs Group Inc. grew its stake in CSP by 66.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 29,800 shares of the information technology services provider's stock worth $457,000 after buying an additional 11,850 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in CSP by 73.4% during the 1st quarter. Jane Street Group LLC now owns 27,640 shares of the information technology services provider's stock worth $424,000 after buying an additional 11,703 shares during the last quarter. 26.74% of the stock is currently owned by hedge funds and other institutional investors.

CSP Company Profile

(Get Free Report)

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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