CSP (NASDAQ:CSPI) Stock Price Crosses Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• CSP Inc. shares fell below their 200-day moving average on Wednesday, trading as low as $8.14 versus a 200-day average of $9.72, with the stock last at $8.64.
• Analyst sentiment remains bearish, as Weiss Ratings upgraded the stock only from “sell (d)” to “sell (d+),” and MarketBeat data shows a consensus rating of “Sell.”
• Recent fundamentals and shareholder returns were modest: CSP reported $0.03 EPS on $16.01 million in revenue last quarter and paid a quarterly dividend of $0.03 per share, equal to a 1.4% yield.

CSP Inc. (NASDAQ:CSPI - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.72 and traded as low as $8.14. CSP shares last traded at $8.64, with a volume of 20,786 shares traded.

Analyst Ratings Changes

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

CSP Stock Up 5.0%

The firm has a market cap of $87.00 million, a price-to-earnings ratio of -864.00 and a beta of 0.84. The company has a 50 day moving average of $9.07 and a 200 day moving average of $9.72.

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 for the quarter. CSP had a negative return on equity of 0.25% and a negative net margin of 0.20%.The firm had revenue of $16.01 million during the quarter.

CSP Announces Dividend

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

Institutional Trading of CSP

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in CSP by 113.0% in the second quarter. Geode Capital Management LLC now owns 158,355 shares of the information technology services provider's stock valued at $2,049,000 after acquiring an additional 83,999 shares in the last quarter. Visionary Wealth Advisors grew its holdings 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 acquiring an additional 39,738 shares in the last quarter. Segall Bryant & Hamill LLC grew its holdings in CSP by 100.2% during the 4th quarter. Segall Bryant & Hamill LLC now owns 38,448 shares of the information technology services provider's stock worth $481,000 after acquiring an additional 19,244 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of CSP in the 3rd quarter worth about $157,000. Finally, Goldman Sachs Group Inc. increased its position in shares of CSP by 66.0% in the 1st 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 last quarter. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.