CPS Technologies (NASDAQ:CPSH) Share Price Breaks Below 200-Day Moving Average - Here's What Happened

Key Points

• CPS Technologies shares fell below their 200-day moving average of $4.89, reaching $3.35 before closing at $3.47 on elevated trading volume.
• Analyst views remain mixed: Roth Capital reiterated a Buy rating with a $6.00 price target, while other firms issued Hold or Sell ratings. MarketBeat’s consensus rating is Hold with a $6.00 target.
• Institutional ownership stands at 11.18%, with several funds—including Tema ETFs, Tidal Investments and BlackRock—recently establishing or increasing positions in the company.

CPS Technologies Corp. (NASDAQ:CPSH - Get Free Report) shares crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $4.89 and traded as low as $3.35. CPS Technologies shares last traded at $3.47, with a volume of 735,878 shares trading hands.

Analyst Ratings Changes

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

CPS Technologies Trading Down 1.1%

The firm has a market cap of $67.28 million, a price-to-earnings ratio of -347.00 and a beta of 2.09. The firm has a 50-day moving average of $3.86 and a two-hundred day moving average of $4.89.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Tema ETFs LLC increased its stake in shares of CPS Technologies by 55,189.2% in the second quarter. Tema ETFs LLC now owns 1,506,077 shares of the electronics maker's stock valued at $8,314,000 after buying an additional 1,503,353 shares in the last quarter. Tidal Investments LLC bought a new position in shares of CPS Technologies in the second quarter valued at about $8,314,000. BlackRock Inc. bought a new position in shares of CPS Technologies in the second quarter valued at about $2,352,000. Renaissance Technologies LLC raised its holdings in shares of CPS Technologies by 13.2% in the first quarter. Renaissance Technologies LLC now owns 248,958 shares of the electronics maker's stock valued at $931,000 after buying an additional 29,100 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of CPS Technologies by 54.1% in the first quarter. Sei Investments Co. now owns 186,790 shares of the electronics maker's stock valued at $699,000 after buying an additional 65,582 shares during the last quarter. 11.18% of the stock is currently owned by institutional investors and hedge funds.

About CPS Technologies

CPS Technologies Corporation NASDAQ: CPSH develops and manufactures advanced material solutions for demanding industrial, defense, aerospace, transportation, and electronics applications. The company specializes in engineered composites and ceramics designed to provide combinations of thermal management, lightweight strength, durability, and ballistic protection.

Its product offerings include aluminum silicon carbide (AlSiC) metal matrix composites, ceramic armor systems, and other structural ceramic and composite components.

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