CSP (NASDAQ:CSPI) Shares Cross Below 200-Day Moving Average - Here's What Happened

Key Points

• CSP shares fell below their 200-day moving average, trading as low as $7.63 versus the $8.52 average, on volume of 3,847 shares.
• Weiss Ratings downgraded CSP from “sell (d+)” to “sell (d),” while the company’s sole analyst rating remains “Sell.”
• CSP reported a quarterly loss of $0.09 per share on $14.4 million in revenue, but declared a quarterly dividend of $0.03 per share, equivalent to a 1.6% annualized yield.

Shares of CSP Inc. (NASDAQ:CSPI - Get Free Report) crossed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $8.52 and traded as low as $7.63. CSP shares last traded at $7.63, with a volume of 3,847 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered CSP from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 24th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of "Sell".

CSP Trading Down 0.3%

The stock's 50 day moving average is $7.88 and its 200 day moving average is $8.52. The stock has a market capitalization of $76.91 million, a price-to-earnings ratio of -108.98 and a beta of 0.87.

CSP (NASDAQ:CSPI - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The information technology services provider reported ($0.09) earnings per share (EPS) for the quarter. CSP had a negative net margin of 1.22% and a negative return on equity of 1.56%. The business had revenue of $14.40 million during the quarter.

CSP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 28th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.12 annualized dividend and a yield of 1.6%. CSP's dividend payout ratio (DPR) is presently -171.43%.

Institutional Trading of CSP

Institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new stake in shares of CSP during the second quarter valued at $196,000. Susquehanna International Group LLP acquired a new position in CSP in the 2nd quarter valued at about $233,000. Bank of New York Mellon Corp purchased a new position in CSP in the 2nd quarter valued at about $364,000. BlackRock Inc. purchased a new position in CSP in the 2nd quarter valued at about $512,000. Finally, Visionary Wealth Advisors acquired a new stake in shares of CSP during the 2nd quarter worth about $6,361,000. 26.74% of the stock is currently owned by hedge funds and other institutional investors.

CSP Company Profile

CSP Inc NASDAQ: CSPI is a technology company that provides information technology solutions, cybersecurity services and high-performance networking products. Through its Technology Solutions segment, the company offers systems integration, managed services, cloud and infrastructure support, cybersecurity and related professional services for commercial, government and defense customers.

CSP also develops and supplies specialized networking products through its High Performance Products segment.

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