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

Key Points

• CPS Technologies shares fell below their 200-day moving average, trading as low as $3.53 and last changing hands at $3.63, compared with a 200-day average of $4.91.
• Analyst sentiment is mixed, with the stock carrying an overall “Hold” rating and an average price target of $6.00; ratings range from Buy to Sell.
• Institutional ownership increased as several funds added or initiated positions, but institutions and hedge funds collectively own only 11.18% of the company.

CPS Technologies Corp. (NASDAQ:CPSH - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $4.91 and traded as low as $3.53. CPS Technologies shares last traded at $3.63, with a volume of 301,207 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Weiss Ratings cut shares of CPS Technologies from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, August 14th. Zacks Research upgraded shares of CPS Technologies from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Roth Capital reaffirmed a "buy" rating and set a $6.00 price objective (up from $5.50) on shares of CPS Technologies in a report 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 issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $6.00.

CPS Technologies Trading Down 5.5%

The business has a fifty day simple moving average of $3.97 and a two-hundred day simple moving average of $4.91. The company has a market cap of $70.39 million, a PE ratio of -363.00 and a beta of 2.09.

Hedge Funds Weigh In On CPS Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of CPSH. Tema ETFs LLC lifted its stake in CPS Technologies by 55,189.2% in the 2nd quarter. Tema ETFs LLC now owns 1,506,077 shares of the electronics maker's stock worth $8,314,000 after purchasing an additional 1,503,353 shares in the last quarter. Tidal Investments LLC purchased a new position in CPS Technologies during the second quarter worth approximately $8,314,000. BlackRock Inc. acquired a new position in CPS Technologies during the second quarter worth $2,352,000. Renaissance Technologies LLC boosted its stake in CPS Technologies by 13.2% during the first quarter. Renaissance Technologies LLC now owns 248,958 shares of the electronics maker's stock worth $931,000 after buying an additional 29,100 shares during the last quarter. Finally, MYDA Advisors LLC purchased a new stake in CPS Technologies in the 4th quarter valued at $865,000. 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.

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.