CSP Inc. (NASDAQ:CSPI) Short Interest Update

CSP Inc. (NASDAQ:CSPI) was the target of a large drop in short interest in June. As of June 30th, there was short interest totaling 81,735 shares, a drop of 64.0% from the June 15th total of 226,922 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average trading volume of 125,462 shares, the short-interest ratio is currently 0.7 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSPI. Geode Capital Management LLC grew its position in CSP by 113.0% in the 2nd quarter. Geode Capital Management LLC now owns 158,355 shares of the information technology services provider’s stock worth $2,049,000 after purchasing an additional 83,999 shares in the last quarter. Visionary Wealth Advisors lifted its position in shares of CSP by 5.7% during the 2nd quarter. Visionary Wealth Advisors now owns 740,187 shares of the information technology services provider’s stock worth $9,578,000 after buying an additional 39,738 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in shares of CSP by 100.2% in the 4th quarter. Segall Bryant & Hamill LLC now owns 38,448 shares of the information technology services provider’s stock worth $481,000 after buying an additional 19,244 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of CSP in the 3rd quarter worth approximately $157,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of CSP by 66.0% in the first quarter. Goldman Sachs Group Inc. now owns 29,800 shares of the information technology services provider’s stock valued at $457,000 after acquiring an additional 11,850 shares in the last quarter. 26.74% of the stock is currently owned by hedge funds and other institutional investors.

CSP Price Performance

Shares of NASDAQ:CSPI opened at $8.70 on Monday. The business’s 50 day moving average is $9.00 and its 200 day moving average is $9.66. CSP has a 12-month low of $7.51 and a 12-month high of $15.00. The stock has a market cap of $87.61 million, a price-to-earnings ratio of -870.00 and a beta of 0.84.

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

CSP Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.