CSP (NASDAQ:CSPI) Stock Passes Below 200 Day Moving Average - Time to Sell?

Key Points

• CSP shares fell below their 200-day moving average, trading as low as $7.50 versus the $8.57 average, and last changed hands at $7.52.
• Weiss Ratings downgraded CSP to “sell (d),” while the company’s sole analyst rating remains “Sell,” according to MarketBeat.
• CSP reported a quarterly loss of $0.09 per share on $14.4 million in revenue and maintains a $0.03 quarterly dividend, equivalent to a 1.6% yield.

CSP Inc. (NASDAQ:CSPI - Get Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.57 and traded as low as $7.50. CSP shares last traded at $7.52, with a volume of 14,784 shares trading hands.

Analysts Set New Price Targets

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

CSP Stock Down 0.4%

The firm has a market cap of $75.80 million, a PE ratio of -107.41 and a beta of 0.87. The company's fifty day moving average price is $7.94 and its two-hundred day moving average price is $8.57.

CSP (NASDAQ:CSPI - Get Free Report) last posted 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 return on equity of 1.56% and a negative net margin of 1.22%.The firm had revenue of $14.40 million for the quarter.

CSP Dividend Announcement

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

Institutional Inflows and Outflows

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

About CSP

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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