CSP (NASDAQ:CSPI) Stock Price Passes Below 200 Day Moving Average - Here's Why

Key Points

• CSP Inc. (NASDAQ:CSPI) stock price fell below its 200-day moving average of $13.56, trading as low as $11.11 and closing at $11.28.
• The company reported a quarterly earnings loss of ($0.03) EPS and a revenue of $15.45 million, along with a negative return on equity of -3.35%.
• CSP recently announced a quarterly dividend of $0.03 per share, representing a 1.1% yield based on an annualized payout of $0.12.

CSP Inc. (NASDAQ:CSPI - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.56 and traded as low as $11.11. CSP shares last traded at $11.28, with a volume of 24,132 shares.

CSP Price Performance

The firm's fifty day moving average price is $11.51 and its 200-day moving average price is $13.56. The company has a market capitalization of $111.22 million, a price-to-earnings ratio of -66.35 and a beta of 0.78.

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

CSP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, August 29th. CSP's dividend payout ratio is presently -70.59%.

Institutional Trading of CSP

Institutional investors and hedge funds have recently bought and sold shares of the stock. Visionary Wealth Advisors increased its holdings in CSP by 15.4% in the fourth quarter. Visionary Wealth Advisors now owns 766,842 shares of the information technology services provider's stock valued at $12,323,000 after purchasing an additional 102,544 shares during the period. Millennium Management LLC increased its holdings in CSP by 19.5% in the fourth quarter. Millennium Management LLC now owns 28,570 shares of the information technology services provider's stock valued at $459,000 after purchasing an additional 4,659 shares during the period. Jane Street Group LLC acquired a new stake in CSP during the 4th quarter worth about $256,000. Northern Trust Corp grew its holdings in CSP by 39.9% during the 4th quarter. Northern Trust Corp now owns 38,838 shares of the information technology services provider's stock worth $624,000 after acquiring an additional 11,075 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new stake in CSP during the 1st quarter worth about $186,000. 26.74% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.