CSP (NASDAQ:CSPI) Stock Price Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• CSP Inc. has experienced a drop, trading below its 200-day moving average of $14.50, with its shares recently trading at $11.65.
• The company reported a quarterly earnings per share (EPS) of ($0.03) with revenue of $15.45 million and has a negative net margin of 2.78%.
• CSP recently declared a $0.03 quarterly dividend, resulting in a 1.0% dividend yield, despite a negative dividend payout ratio of -70.59%.

CSP Inc. (NASDAQ:CSPI - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.50 and traded as low as $11.65. CSP shares last traded at $11.65, with a volume of 12,790 shares changing hands.

CSP Stock Up 7.9%

The business's fifty day moving average is $11.49 and its 200-day moving average is $14.32. The stock has a market capitalization of $125.62 million, a PE ratio of -74.94 and a beta of 0.88.

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

CSP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, August 29th. CSP's payout ratio is currently -70.59%.

Institutional Investors Weigh In On CSP

Several institutional investors have recently bought and sold shares of CSPI. Bank of America Corp DE grew its stake in CSP by 3,943.3% during the second quarter. Bank of America Corp DE now owns 2,426 shares of the information technology services provider's stock worth $31,000 after buying an additional 2,366 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of CSP in the second quarter valued at $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of CSP in the second quarter valued at $49,000. Raymond James Financial Inc. purchased a new position in shares of CSP in the second quarter valued at $91,000. Finally, New York State Common Retirement Fund purchased a new position in shares of CSP in the second quarter valued at $122,000. 26.74% of the stock is currently owned by hedge funds and other institutional investors.

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.