CSP (NASDAQ:CSPI) Shares Cross Below 200 Day Moving Average – Time to Sell?

CSP Inc. (NASDAQ:CSPI)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.72 and traded as low as $8.14. CSP shares last traded at $8.64, with a volume of 20,786 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of CSP from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

CSP Trading Down 0.7%

The stock has a market cap of $87.61 million, a price-to-earnings ratio of -870.00 and a beta of 0.84. The company’s fifty day moving average is $9.00 and its two-hundred day moving average is $9.68.

CSP (NASDAQ:CSPI) last released its quarterly earnings results on Thursday, May 7th. The information technology services provider reported $0.03 EPS for the quarter. CSP had a negative return on equity of 0.25% and a negative net margin of 0.20%.The company had revenue of $16.01 million for the quarter.

CSP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, May 21st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Thursday, May 21st. CSP’s payout ratio is currently -1,200.00%.

Hedge Funds Weigh In On CSP

Several institutional investors have recently bought and sold shares of CSPI. Bank of America Corp DE increased its stake in CSP by 3,943.3% during the second quarter. Bank of America Corp DE now owns 2,426 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 2,366 shares during the period. Geode Capital Management LLC boosted its stake in shares of CSP by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 163,385 shares of the information technology services provider’s stock valued at $2,043,000 after purchasing an additional 2,739 shares during the period. Wells Fargo & Company MN grew its holdings in shares of CSP by 72.6% in the fourth quarter. Wells Fargo & Company MN now owns 7,618 shares of the information technology services provider’s stock valued at $95,000 after purchasing an additional 3,204 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of CSP by 14.4% in the second quarter. JPMorgan Chase & Co. now owns 26,079 shares of the information technology services provider’s stock valued at $337,000 after purchasing an additional 3,279 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in CSP during the 2nd quarter worth approximately $49,000. 26.74% of the stock is owned by institutional investors and hedge funds.

About CSP

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.