CSP Inc. (NASDAQ:CSPI) Sees Large Growth in Short Interest

CSP Inc. (NASDAQ:CSPI) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 244,100 shares, an increase of 5.9% from the September 15th total of 230,500 shares. Based on an average trading volume of 37,000 shares, the short-interest ratio is currently 6.6 days.

CSP Stock Up 4.3 %

Shares of NASDAQ:CSPI traded up $0.55 during trading on Thursday, hitting $13.33. 20,593 shares of the company were exchanged, compared to its average volume of 90,049. CSP has a 1-year low of $8.22 and a 1-year high of $29.92. The company has a market capitalization of $130.02 million, a P/E ratio of 23.80 and a beta of 1.37. The business’s 50 day moving average is $13.07 and its 200-day moving average is $14.31.

CSP (NASDAQ:CSPI) last issued its earnings results on Tuesday, August 13th. The information technology services provider reported ($0.02) earnings per share (EPS) for the quarter. CSP had a return on equity of 5.38% and a net margin of 4.42%. The firm had revenue of $13.11 million during the quarter.

CSP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 23rd were issued a $0.03 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.12 dividend on an annualized basis and a yield of 0.90%. CSP’s dividend payout ratio (DPR) is presently 21.43%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of CSP from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th.

Insider Transactions at CSP

In other news, Director C Shelton James sold 2,000 shares of CSP stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $14.25, for a total value of $28,500.00. Following the transaction, the director now owns 109,606 shares in the company, valued at approximately $1,561,885.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 16.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CSP

Hedge funds have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC bought a new stake in shares of CSP in the 1st quarter valued at about $276,000. American Century Companies Inc. bought a new position in shares of CSP during the second quarter worth about $503,000. Apis Capital Advisors LLC lifted its stake in shares of CSP by 50.0% in the second quarter. Apis Capital Advisors LLC now owns 36,000 shares of the information technology services provider’s stock worth $536,000 after acquiring an additional 12,000 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in CSP by 122.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 197,556 shares of the information technology services provider’s stock valued at $2,944,000 after acquiring an additional 108,778 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in CSP by 102.4% during the 1st quarter. Vanguard Group Inc. now owns 409,566 shares of the information technology services provider’s stock valued at $7,561,000 after purchasing an additional 207,253 shares during the period. 26.74% of the stock is currently 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.