CSP (NASDAQ:CSPI) Stock Price Crosses Below 200-Day Moving Average – Time to Sell?

CSP Inc. (NASDAQ:CSPI) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.57 and traded as low as $7.50. CSP shares last traded at $7.52, with a volume of 14,784 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut CSP from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

CSP Stock Down 4.4%

The company has a 50 day moving average of $7.91 and a two-hundred day moving average of $8.55. The firm has a market cap of $74.80 million, a P/E ratio of -105.98 and a beta of 0.87.

CSP (NASDAQ:CSPI) last issued its quarterly earnings results on Friday, August 14th. The information technology services provider reported ($0.09) EPS for the quarter. CSP had a negative return on equity of 1.56% and a negative net margin of 1.22%.The business had revenue of $14.40 million during the quarter.

CSP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 28th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 28th. CSP’s dividend payout ratio is currently -171.43%.

Institutional Investors Weigh In On CSP

A number of large investors have recently made changes to their positions in CSPI. Squarepoint Ops LLC acquired a new position in CSP in the 2nd quarter worth approximately $196,000. Susquehanna International Group LLP purchased a new position in shares of CSP during the second quarter valued at $233,000. Visionary Wealth Advisors acquired a new position in CSP during the second quarter valued at $6,361,000. BlackRock Inc. purchased a new stake in CSP in the 2nd quarter worth about $512,000. Finally, Bank of New York Mellon Corp acquired a new stake in CSP during the 2nd quarter worth about $364,000. Institutional investors and hedge funds own 26.74% of the company’s stock.

About CSP

CSP Inc (NASDAQ: CSPI) is a technology company that provides information technology solutions, cybersecurity services and high-performance networking products. Through its Technology Solutions segment, the company offers systems integration, managed services, cloud and infrastructure support, cybersecurity and related professional services for commercial, government and defense customers.

CSP also develops and supplies specialized networking products through its High Performance Products segment.