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

CSP Inc. (NASDAQ:CSPI) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $8.45 and traded as low as $7.33. CSP shares last traded at $7.56, with a volume of 12,853 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of CSP from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 24th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

CSP Price Performance

The stock has a market capitalization of $77.62 million, a P/E ratio of -109.98 and a beta of 0.87. The stock’s 50-day simple moving average is $7.76 and its 200 day simple moving average is $8.45.

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

CSP Dividend Announcement

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

Hedge Funds Weigh In On CSP

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

CSP Company Profile

CSP Inc (NASDAQ: CSPI) is a technology company that provides information technology solutions, cybersecurity products and high-performance networking systems. The company serves commercial enterprises, government organizations and other institutions that require secure, reliable and high-speed computing and communications infrastructure.

CSP operates through two primary areas: Technology Solutions and High Performance Products. Its technology solutions business provides services such as IT infrastructure design and integration, managed services, cybersecurity, cloud and data-center support, networking, storage and virtualization.