CSP (NASDAQ:CSPI) Stock Crosses Below 200-Day Moving Average - Here's Why

Key Points

• CSP shares fell below their 200-day moving average, trading as low as $7.33 versus the $8.45 average, and last changing hands at $7.56.
• Analyst sentiment remains negative: Weiss Ratings downgraded CSP to “sell,” while the stock’s sole analyst rating is also “Sell.”
• CSP reported a quarterly loss of $0.09 per share on $14.4 million in revenue, alongside a $0.03 quarterly dividend yielding about 1.6%; institutional investors own 26.74% of the company.

CSP Inc. (NASDAQ:CSPI - Get Free Report) shares passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $8.45 and traded as low as $7.33. CSP shares last traded at $7.56, with a volume of 12,853 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of CSP from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, August 24th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock currently has an average rating of "Sell".

CSP Price Performance

The stock has a market capitalization of $76.21 million, a PE ratio of -107.98 and a beta of 0.87. The business has a 50 day moving average price of $7.78 and a 200 day moving average price of $8.45.

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

CSP Announces Dividend

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

Institutional Trading of CSP

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

CSP Company Profile

CSP Inc NASDAQ: CSPI is a technology company that provides information technology solutions, cybersecurity products and high-performance networking systems. The company serves commercial enterprises, government organizations and other institutions that require secure, reliable and high-speed computing and communications infrastructure.

CSP operates through two primary areas: Technology Solutions and High Performance Products. Its technology solutions business provides services such as IT infrastructure design and integration, managed services, cybersecurity, cloud and data-center support, networking, storage and virtualization.

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