Short Interest in CPS Technologies Corp. (NASDAQ:CPSH) Decreases By 35.6%

Key Points

• Short interest dropped 35.6% to 75,867 shares as of March 31, equal to about 0.5% of shares sold short and a days-to-cover ratio of 0.6 based on average daily volume.
• Analysts have turned cautious—Weiss Ratings cut CPS Technologies to a Sell and Wall Street Zen to a Hold—leaving a consensus Hold rating with an average target price of $6.00 (1 Buy, 1 Hold, 1 Sell).
• CPSH missed quarterly estimates, reporting EPS of $0.01 versus $0.02 expected and revenue of $8.21M vs. $9.46M, while the stock trades near $4.94 with a market cap of about $88.9M and a 52-week range of $1.43–$6.85.

CPS Technologies Corp. (NASDAQ:CPSH - Get Free Report) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 75,867 shares, a drop of 35.6% from the March 15th total of 117,830 shares. Based on an average daily volume of 127,616 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.5% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Weiss Ratings downgraded CPS Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, April 6th. Wall Street Zen downgraded CPS Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $6.00.

Hedge Funds Weigh In On CPS Technologies

A number of institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in shares of CPS Technologies in the fourth quarter worth $95,000. Polar Asset Management Partners Inc. purchased a new position in CPS Technologies during the fourth quarter worth about $1,022,000. MYDA Advisors LLC purchased a new position in CPS Technologies during the fourth quarter worth about $865,000. Evernest Financial Advisors LLC purchased a new position in CPS Technologies during the fourth quarter worth about $449,000. Finally, Kennedy Capital Management LLC purchased a new position in CPS Technologies during the fourth quarter worth about $588,000. 11.18% of the stock is owned by institutional investors and hedge funds.

CPS Technologies Stock Performance

CPSH stock traded up $0.02 during midday trading on Tuesday, hitting $4.94. 88,580 shares of the stock were exchanged, compared to its average volume of 301,921. The stock's 50-day moving average price is $4.29 and its 200-day moving average price is $4.00. The stock has a market cap of $88.86 million, a price-to-earnings ratio of 164.59 and a beta of 1.46. CPS Technologies has a fifty-two week low of $1.43 and a fifty-two week high of $6.85.

CPS Technologies (NASDAQ:CPSH - Get Free Report) last issued its quarterly earnings data on Tuesday, March 3rd. The electronics maker reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). CPS Technologies had a return on equity of 2.43% and a net margin of 1.29%.The firm had revenue of $8.21 million for the quarter, compared to analyst estimates of $9.46 million.

About CPS Technologies

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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