CPS Technologies Corp. (NASDAQ:CPSH) Sees Significant Growth in Short Interest

CPS Technologies Corp. (NASDAQ:CPSH) was the recipient of a significant growth in short interest in May. As of May 29th, there was short interest totaling 1,540,742 shares, a growth of 85.0% from the May 14th total of 832,617 shares. Based on an average daily volume of 6,240,714 shares, the days-to-cover ratio is currently 0.2 days. Currently, 9.8% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CPSH. NewEdge Advisors LLC grew its holdings in shares of CPS Technologies by 14.2% in the first quarter. NewEdge Advisors LLC now owns 41,072 shares of the electronics maker’s stock valued at $154,000 after purchasing an additional 5,120 shares during the period. Renaissance Technologies LLC raised its stake in CPS Technologies by 13.2% during the first quarter. Renaissance Technologies LLC now owns 248,958 shares of the electronics maker’s stock worth $931,000 after purchasing an additional 29,100 shares during the period. Sei Investments Co. boosted its holdings in CPS Technologies by 54.1% in the 1st quarter. Sei Investments Co. now owns 186,790 shares of the electronics maker’s stock valued at $699,000 after purchasing an additional 65,582 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of CPS Technologies by 50.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 92,675 shares of the electronics maker’s stock valued at $347,000 after buying an additional 31,209 shares during the period. Finally, James Investment Research Inc. increased its holdings in shares of CPS Technologies by 14.2% during the 1st quarter. James Investment Research Inc. now owns 41,072 shares of the electronics maker’s stock worth $154,000 after buying an additional 5,120 shares during the last quarter. Institutional investors and hedge funds own 11.18% of the company’s stock.

CPS Technologies Price Performance

Shares of NASDAQ:CPSH traded down $0.77 during midday trading on Monday, hitting $7.09. The company had a trading volume of 390,044 shares, compared to its average volume of 1,076,399. CPS Technologies has a twelve month low of $2.10 and a twelve month high of $14.39. The business’s 50-day simple moving average is $5.86 and its 200-day simple moving average is $4.71.

CPS Technologies (NASDAQ:CPSH) last released its quarterly earnings data on Tuesday, May 5th. The electronics maker reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). The company had revenue of $7.03 million for the quarter, compared to analyst estimates of $8.63 million. CPS Technologies had a return on equity of 0.16% and a net margin of 0.10%. Equities research analysts expect that CPS Technologies will post 0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CPSH has been the topic of a number of research reports. Wall Street Zen lowered CPS Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings upgraded shares of CPS Technologies from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Finally, Zacks Research downgraded shares of CPS Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.00.

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.