Short Interest in CPS Technologies Co. (NASDAQ:CPSH) Declines By 14.3%

CPS Technologies Co. (NASDAQ:CPSH) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 243,000 shares, a drop of 14.3% from the January 15th total of 283,500 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average daily trading volume, of 50,300 shares, the short-interest ratio is presently 4.8 days.

Institutional Investors Weigh In On CPS Technologies

Several hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of CPS Technologies in the third quarter valued at about $26,000. Renaissance Technologies LLC increased its position in CPS Technologies by 8.6% during the 4th quarter. Renaissance Technologies LLC now owns 86,923 shares of the electronics maker’s stock valued at $140,000 after purchasing an additional 6,865 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of CPS Technologies by 13.2% in the 4th quarter. Geode Capital Management LLC now owns 110,786 shares of the electronics maker’s stock valued at $178,000 after purchasing an additional 12,903 shares in the last quarter. 11.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of CPS Technologies in a research report on Thursday. They issued a “hold” rating for the company.

CPS Technologies Stock Performance

Shares of NASDAQ CPSH opened at $1.92 on Friday. CPS Technologies has a 52-week low of $1.27 and a 52-week high of $2.54. The firm has a market capitalization of $27.90 million, a price-to-earnings ratio of -13.71 and a beta of 1.25. The stock has a 50 day moving average price of $1.73 and a 200 day moving average price of $1.54.

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.