CPS Technologies (NASDAQ:CPSH) Stock Passes Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• CPS Technologies shares fell below their 200-day moving average of $4.97, reaching as low as $3.59 before closing at $3.67 on elevated volume.
• Analyst sentiment is mixed: Roth Capital maintained a Buy rating with a $6.00 target, while other firms issued Hold or Sell views. The overall consensus is Hold, with an average price target of $6.00.
• The company has a market capitalization of approximately $71.2 million, while institutional investors and hedge funds own 11.18% of its stock.

CPS Technologies Corp. (NASDAQ:CPSH - Get Free Report)'s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.97 and traded as low as $3.59. CPS Technologies shares last traded at $3.67, with a volume of 663,085 shares trading hands.

Wall Street Analyst Weigh In

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

CPS Technologies Price Performance

The company has a market capitalization of $71.16 million, a PE ratio of -367.00 and a beta of 2.11. The stock's 50 day simple moving average is $4.45 and its 200-day simple moving average is $4.97.

Institutional Investors Weigh In On CPS Technologies

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new position in CPS Technologies in the 2nd quarter valued at approximately $98,000. Dimensional Fund Advisors LP grew its stake in shares of CPS Technologies by 81.2% in the third quarter. Dimensional Fund Advisors LP now owns 26,341 shares of the electronics maker's stock worth $94,000 after acquiring an additional 11,808 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of CPS Technologies during the third quarter worth $789,000. Perkins Capital Management Inc. purchased a new stake in shares of CPS Technologies during the fourth quarter worth $624,000. Finally, Geode Capital Management LLC raised its stake in shares of CPS Technologies by 11.1% in the fourth quarter. Geode Capital Management LLC now owns 145,827 shares of the electronics maker's stock valued at $451,000 after acquiring an additional 14,588 shares in the last quarter. 11.18% of the stock is currently owned by institutional investors and hedge funds.

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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