Short Interest in CPS Technologies Co. (NASDAQ:CPSH) Decreases By 15.1%

CPS Technologies Co. (NASDAQ:CPSH) was the target of a large drop in short interest in July. As of July 31st, there was short interest totalling 79,100 shares, a drop of 15.1% from the July 15th total of 93,200 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily volume of 21,100 shares, the days-to-cover ratio is currently 3.7 days.

Hedge Funds Weigh In On CPS Technologies

A hedge fund recently bought a new stake in CPS Technologies stock. Virtu Financial LLC purchased a new stake in CPS Technologies Co. (NASDAQ:CPSH) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,321 shares of the electronics maker’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 0.11% of CPS Technologies at the end of the most recent reporting period. 11.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of CPS Technologies in a research report on Tuesday, August 13th. They issued a “hold” rating for the company.

CPS Technologies Stock Performance

CPS Technologies stock traded down $0.06 during midday trading on Friday, hitting $1.42. 59,347 shares of the company’s stock were exchanged, compared to its average volume of 28,353. The firm’s 50 day simple moving average is $1.66 and its 200 day simple moving average is $1.85. CPS Technologies has a 12-month low of $1.30 and a 12-month high of $3.08. The stock has a market cap of $20.62 million, a price-to-earnings ratio of 28.40 and a beta of 1.28.

About CPS Technologies

CPS Technologies Corporation provides advanced material solutions to the transportation, automotive, energy, computing/internet, telecommunication, aerospace, defense, and oil and gas markets in the United States, Europe, and Asia. The company offers metal matrix composites such as baseplates for various applications, including motor controllers used in electric trains, subway cars, wind turbines, and hybrid and electric vehicles; hermetic packages for use in radar, satellite, and avionics applications; baseplates and housings used in modules built with wide band gap semiconductors; and lids and heat spreaders for use in internet switches and routers.