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

Key Points

• CPS Technologies shares fell below their 200-day moving average of $4.90, reaching as low as $3.78 and closing at $3.85.
• Analyst sentiment is mixed: Roth Capital maintained a Buy rating and raised its target to $6.00, while Weiss Ratings and Wall Street Zen downgraded the stock. The consensus rating is Hold with a $6.00 price target.
• Institutional ownership increased, with Tema ETFs, Tidal Investments and BlackRock among investors adding or initiating positions; institutions now own 11.18% of the company.

CPS Technologies Corp. (NASDAQ:CPSH - Get Free Report)'s share price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $4.90 and traded as low as $3.78. CPS Technologies shares last traded at $3.85, with a volume of 96,536 shares traded.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Roth Capital restated a "buy" rating and issued a $6.00 price target (up from $5.50) on shares of CPS Technologies in a research report on Wednesday, August 12th. Weiss Ratings cut shares of CPS Technologies from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, August 14th. Wall Street Zen downgraded shares of CPS Technologies from a "hold" rating to a "sell" rating in a research note on Sunday, August 16th. Finally, Zacks Research upgraded CPS Technologies from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. One research 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $6.00.

CPS Technologies Trading Down 0.5%

The company has a market cap of $74.65 million, a price-to-earnings ratio of -385.00 and a beta of 2.11. The business has a fifty day moving average price of $4.07 and a two-hundred day moving average price of $4.90.

Institutional Investors Weigh In On CPS Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CPSH. Tema ETFs LLC boosted its stake in shares of 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 valued at $8,314,000 after buying an additional 1,503,353 shares during the period. Tidal Investments LLC acquired a new position in shares of CPS Technologies in the second quarter worth $8,314,000. BlackRock Inc. purchased a new stake in shares of CPS Technologies during the second quarter worth $2,352,000. MYDA Advisors LLC purchased a new stake in shares of CPS Technologies during the fourth quarter worth $865,000. Finally, Renaissance Technologies LLC boosted its position in CPS Technologies by 13.2% during the first quarter. Renaissance Technologies LLC now owns 248,958 shares of the electronics maker's stock valued at $931,000 after purchasing an additional 29,100 shares during the last quarter. Hedge funds and other institutional investors own 11.18% of the company's stock.

CPS Technologies Company Profile

CPS Technologies Corporation develops and manufactures advanced materials and engineered components for demanding applications. The company specializes in lightweight metal matrix composites, ceramic matrix composites and other materials designed to provide combinations of strength, thermal conductivity, wear resistance and dimensional stability.

Its products and technologies are used in areas including defense, aerospace, power electronics, transportation and other industrial markets.

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