CPS Technologies Co. (NASDAQ:CPSH) Sees Large Drop in Short Interest

CPS Technologies Co. (NASDAQ:CPSH) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 203,800 shares, a decrease of 19.2% from the February 13th total of 252,200 shares. Currently, 1.8% of the shares of the company are short sold. Based on an average daily volume of 67,800 shares, the days-to-cover ratio is currently 3.0 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in CPS Technologies in the 3rd quarter valued at approximately $26,000. Citadel Advisors LLC lifted its holdings in shares of CPS Technologies by 18.3% in the 4th quarter. Citadel Advisors LLC now owns 37,171 shares of the electronics maker’s stock valued at $60,000 after buying an additional 5,751 shares during the period. Renaissance Technologies LLC boosted its stake in shares of CPS Technologies by 8.6% in the fourth quarter. Renaissance Technologies LLC now owns 86,923 shares of the electronics maker’s stock valued at $140,000 after buying an additional 6,865 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in CPS Technologies by 13.2% during the fourth quarter. Geode Capital Management LLC now owns 110,786 shares of the electronics maker’s stock worth $178,000 after acquiring an additional 12,903 shares during the period. 11.18% of the stock is currently owned by institutional investors and hedge funds.

CPS Technologies Stock Up 6.5 %

CPSH opened at $1.63 on Thursday. CPS Technologies has a 52 week low of $1.27 and a 52 week high of $2.46. The business has a 50 day moving average price of $1.71 and a two-hundred day moving average price of $1.56. The company has a market cap of $23.68 million, a PE ratio of -11.64 and a beta of 1.32.

CPS Technologies (NASDAQ:CPSH) last issued its quarterly earnings results on Wednesday, March 12th. The electronics maker reported ($0.07) earnings per share for the quarter. The company had revenue of $5.93 million for the quarter. CPS Technologies had a negative return on equity of 12.02% and a negative net margin of 9.12%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of CPS Technologies in a research note on Monday. They issued a “hold” rating on the stock.

CPS Technologies Company Profile

CPS Technologies Corporation provides advanced material solutions to the transportation, automotive, energy, computing/internet, telecommunication, aerospace, defense, and oil and gas markets in the United States, Europe, and Asia. The company offers metal matrix composites such as baseplates for various applications, including motor controllers used in electric trains, subway cars, wind turbines, and hybrid and electric vehicles; hermetic packages for use in radar, satellite, and avionics applications; baseplates and housings used in modules built with wide band gap semiconductors; and lids and heat spreaders for use in internet switches and routers.