CSP (NASDAQ:CSPI) Stock Price Crosses Above 200 Day Moving Average of $13.81

CSP Inc. (NASDAQ:CSPI)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.81 and traded as high as $14.52. CSP shares last traded at $14.33, with a volume of 64,460 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CSPI shares. TheStreet downgraded CSP from a “b-” rating to a “c” rating in a research report on Thursday, February 15th. StockNews.com downgraded CSP from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th.

CSP Price Performance

The firm has a 50-day moving average price of $19.32 and a 200 day moving average price of $13.81. The company has a market cap of $139.14 million, a price-to-earnings ratio of 32.94 and a beta of 1.24.

CSP (NASDAQ:CSPI) last issued its quarterly earnings results on Wednesday, February 14th. The information technology services provider reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $15.38 million during the quarter. CSP had a net margin of 6.33% and a return on equity of 8.76%.

CSP Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Monday, February 26th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Friday, February 23rd. CSP’s dividend payout ratio (DPR) is currently 22.99%.

Insider Activity at CSP

In related news, insider Joseph R. Nerges purchased 1,940 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was acquired at an average cost of $17.97 per share, for a total transaction of $34,852.10. Following the completion of the purchase, the insider now owns 1,335,366 shares in the company, valued at approximately $23,989,850.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders purchased 3,140 shares of company stock worth $57,400. Company insiders own 15.30% of the company’s stock.

Institutional Investors Weigh In On CSP

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Navellier & Associates Inc. bought a new stake in CSP during the third quarter worth $367,000. EAM Investors LLC bought a new stake in CSP during the third quarter worth $1,383,000. Finally, Visionary Wealth Advisors lifted its stake in CSP by 0.6% during the third quarter. Visionary Wealth Advisors now owns 284,040 shares of the information technology services provider’s stock worth $4,971,000 after purchasing an additional 1,722 shares during the last quarter. 26.74% of the stock is currently owned by institutional investors.

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.