CSP (NASDAQ:CSPI) Shares Pass Above 200-Day Moving Average – What’s Next?

CSP Inc. (NASDAQ:CSPI)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.93 and traded as high as $12.00. CSP shares last traded at $11.59, with a volume of 12,608 shares traded.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of CSP in a research note on Monday, December 29th. Wall Street Zen upgraded shares of CSP to a “hold” rating in a research report on Saturday, January 10th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

CSP Price Performance

The company has a 50 day simple moving average of $12.25 and a 200-day simple moving average of $11.93. The stock has a market capitalization of $114.74 million, a P/E ratio of -1,159.00 and a beta of 0.68.

CSP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Friday, December 26th were paid a $0.03 dividend. The ex-dividend date was Friday, December 26th. This represents a $0.12 annualized dividend and a dividend yield of 1.0%. CSP’s dividend payout ratio (DPR) is presently -1,200.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in CSP by 3,943.3% during the 2nd quarter. Bank of America Corp DE now owns 2,426 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 2,366 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new position in shares of CSP in the second quarter worth $33,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of CSP in the second quarter valued at $49,000. Raymond James Financial Inc. bought a new stake in shares of CSP during the 2nd quarter valued at $91,000. Finally, New York State Common Retirement Fund purchased a new stake in CSP during the 2nd quarter worth about $122,000. 26.74% of the stock is owned by institutional investors.

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.