CSP Inc. (NASDAQ:CSPI – Get Free Report) was the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 283,900 shares, a growth of 9.9% from the July 31st total of 258,300 shares. Based on an average daily volume of 44,600 shares, the short-interest ratio is currently 6.4 days.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut CSP from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th.
View Our Latest Report on CSPI
Insider Transactions at CSP
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Navellier & Associates Inc. lifted its stake in shares of CSP by 53.4% in the 4th quarter. Navellier & Associates Inc. now owns 32,204 shares of the information technology services provider’s stock valued at $628,000 after purchasing an additional 11,215 shares during the period. Visionary Wealth Advisors lifted its position in CSP by 3.3% during the fourth quarter. Visionary Wealth Advisors now owns 293,403 shares of the information technology services provider’s stock valued at $5,868,000 after buying an additional 9,363 shares during the period. Vanguard Group Inc. boosted its holdings in shares of CSP by 102.4% during the 1st quarter. Vanguard Group Inc. now owns 409,566 shares of the information technology services provider’s stock valued at $7,561,000 after buying an additional 207,253 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of CSP in the 1st quarter worth about $276,000. Finally, American Century Companies Inc. bought a new position in shares of CSP in the 2nd quarter worth about $503,000. Hedge funds and other institutional investors own 26.74% of the company’s stock.
CSP Stock Down 2.4 %
Shares of NASDAQ:CSPI traded down $0.34 on Tuesday, hitting $13.56. The company had a trading volume of 24,894 shares, compared to its average volume of 103,139. The firm’s 50-day simple moving average is $14.74 and its two-hundred day simple moving average is $16.11. The firm has a market capitalization of $132.26 million, a price-to-earnings ratio of 24.21 and a beta of 1.38. CSP has a 1 year low of $7.70 and a 1 year high of $29.92.
CSP Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 23rd will be issued a $0.03 dividend. The ex-dividend date is Friday, August 23rd. This represents a $0.12 annualized dividend and a yield of 0.88%. CSP’s dividend payout ratio (DPR) is presently 21.43%.
CSP Company Profile
CSP Inc develops and markets IT integration solutions, security products, managed IT services, cloud services, purpose-built network adapters, and cluster computer systems for commercial and defense customers worldwide. It operates in two segments, Technology Solutions and High Performance Products. The Technology Solutions segment provides third-party computer hardware and software as a value-added reseller to various customers in web and infrastructure hosting, education, telecommunications, healthcare services, distribution, financial and professional services, and manufacturing industries.
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