BlackRock Inc. Makes New $2.35 Million Investment in CPS Technologies Corp. $CPSH

Key Points

• BlackRock acquired 426,162 CPS Technologies shares in the second quarter, worth approximately $2.35 million and representing 2.36% of the company. Other institutional investors also increased their positions, with institutions collectively owning 11.18% of CPSH.
• Analyst sentiment remains mixed: Roth Capital maintained a Buy rating and raised its price target to $6, while other firms issued Hold or Sell ratings. The stock has an average rating of Hold and a $6.00 consensus price target.
• CPSH opened at $3.83, below its 50-day and 200-day moving averages of $4.36 and $4.95, respectively. The stock has traded between $3.03 and $14.39 over the past year, with a market capitalization of about $74.3 million.

BlackRock Inc. bought a new stake in CPS Technologies Corp. (NASDAQ:CPSH - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 426,162 shares of the electronics maker's stock, valued at approximately $2,352,000. BlackRock Inc. owned 2.36% of CPS Technologies as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CPSH. Tema ETFs LLC grew its stake in CPS Technologies by 55,189.2% during the 2nd quarter. Tema ETFs LLC now owns 1,506,077 shares of the electronics maker's stock worth $8,314,000 after buying an additional 1,503,353 shares during the last quarter. Polar Asset Management Partners Inc. bought a new stake in CPS Technologies in the 4th quarter valued at about $1,022,000. MYDA Advisors LLC acquired a new position in CPS Technologies during the 4th quarter valued at about $865,000. Renaissance Technologies LLC grew its position in CPS Technologies by 13.2% in the 1st quarter. Renaissance Technologies LLC now owns 248,958 shares of the electronics maker's stock worth $931,000 after purchasing an additional 29,100 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of CPS Technologies in the third quarter valued at approximately $789,000. Institutional investors own 11.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Zacks Research raised CPS Technologies from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Weiss Ratings cut CPS Technologies from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, August 14th. Roth Capital restated a "buy" rating and set a $6.00 price objective (up from $5.50) on shares of CPS Technologies in a research note on Wednesday, August 12th. Finally, Wall Street Zen lowered shares of CPS Technologies from a "hold" rating to a "sell" rating in a research report on Sunday, August 16th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $6.00.

CPS Technologies Trading Down 0.3%

Shares of CPS Technologies stock opened at $3.83 on Friday. The company's 50-day moving average price is $4.36 and its two-hundred day moving average price is $4.95. CPS Technologies Corp. has a 52 week low of $3.03 and a 52 week high of $14.39. The stock has a market cap of $74.26 million, a PE ratio of -383.00 and a beta of 2.11.

CPS Technologies Company Profile

CPS Technologies Corp is a materials technology company specializing in the design and manufacture of advanced engineered composites and metal systems. The company develops bonded metal components, high-performance polymer composites and ceramic-to-metal brazed assemblies that address the demanding requirements of high-temperature, high-stress and high-frequency applications. CPS Technologies' product portfolio includes thermal management solutions, electromagnetic interference (EMI) shielding materials, structural composites and electronic packaging substrates tailored for critical end markets.

Serving the aerospace, defense, electronics and energy industries, CPS Technologies works closely with original equipment manufacturers and system integrators to deliver custom materials solutions that reduce weight, improve thermal efficiency and enhance mechanical performance.

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