Short Interest in CPS Technologies Corp. (NASDAQ:CPSH) Rises By 90.6%

Key Points

• Short interest jumped 90.6% to 59,013 shares as of Feb. 27, equal to about 0.4% of shares outstanding and a short-interest ratio of just 0.4 days, indicating a sharp rise in short activity but low days to cover.
• CPS Technologies missed quarterly expectations, reporting $0.01 EPS vs. $0.02 expected and $8.21M revenue vs. $9.46M est; the stock trades around $3.86 with a market cap near $69.4M and a P/E of 128.14.
• Several hedge funds have recently added or increased positions (institutional ownership ~11.18%), while analyst sentiment is mixed with an average rating of Hold and an average price target of $6.00.

CPS Technologies Corp. (NASDAQ:CPSH - Get Free Report) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 59,013 shares, a growth of 90.6% from the February 12th total of 30,961 shares. Based on an average trading volume of 133,094 shares, the short-interest ratio is currently 0.4 days. Approximately 0.4% of the company's shares are short sold. Approximately 0.4% of the company's shares are short sold. Based on an average trading volume of 133,094 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new stake in shares of CPS Technologies during the third quarter worth about $69,000. IFP Advisors Inc increased its position in CPS Technologies by 33.3% during the third quarter. IFP Advisors Inc now owns 20,000 shares of the electronics maker's stock worth $71,000 after buying an additional 5,000 shares during the period. Jane Street Group LLC lifted its stake in CPS Technologies by 122.5% in the fourth quarter. Jane Street Group LLC now owns 26,917 shares of the electronics maker's stock valued at $83,000 after buying an additional 14,822 shares during the last quarter. Salvus Wealth Management LLC acquired a new position in shares of CPS Technologies in the 4th quarter valued at $85,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in CPS Technologies in the 4th quarter valued at $94,000. 11.18% of the stock is owned by hedge funds and other institutional investors.

CPS Technologies Stock Performance

Shares of NASDAQ:CPSH traded down $0.17 during trading hours on Thursday, reaching $3.86. The stock had a trading volume of 112,226 shares, compared to its average volume of 361,479. CPS Technologies has a 1 year low of $1.40 and a 1 year high of $6.85. The firm's 50 day moving average is $4.61 and its 200-day moving average is $3.90. The stock has a market capitalization of $69.35 million, a price-to-earnings ratio of 128.14 and a beta of 1.31.

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

Analysts Set New Price Targets

CPSH has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of CPS Technologies in a research note on Wednesday, January 21st. Zacks Research upgraded CPS Technologies to a "hold" rating in a report on Friday, November 14th. Wall Street Zen cut shares of CPS Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. Finally, Roth Mkm initiated coverage on shares of CPS Technologies in a research note on Thursday, November 13th. They set a "buy" rating and a $6.00 target price on the stock. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, CPS Technologies currently has an average rating of "Hold" and an average price target of $6.00.

CPS Technologies Company Profile

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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