CPS Technologies (NASDAQ:CPSH) Share Price Breaks Above 50 Day Moving Average – Here’s What Happened

CPS Technologies Corp. (NASDAQ:CPSH)’s stock price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $3.73 and traded as high as $3.87. CPS Technologies shares last traded at $3.83, with a volume of 151,745 shares trading hands.

Analysts Set New Price Targets

CPSH has been the subject of a number of analyst reports. Weiss Ratings cut shares of CPS Technologies from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, August 14th. Roth Capital reiterated a “buy” rating and issued a $6.00 target price (up from $5.50) on shares of CPS Technologies in a report on Wednesday, August 12th. Finally, Wall Street Zen cut shares of CPS Technologies from a “hold” rating to a “sell” rating in a research report on Sunday, August 16th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $6.00.

CPS Technologies Stock Up 6.4%

The firm has a fifty day simple moving average of $3.73 and a 200-day simple moving average of $4.70.

CPS Technologies (NASDAQ:CPSH) last released its quarterly earnings data on Tuesday, November 3rd. The electronics maker reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. CPS Technologies had a return on equity of 0.38% and a net margin of 0.32%. The business had revenue of $8.90 million for the quarter, compared to analysts’ expectations of $8.54 million. On average, sell-side analysts predict that CPS Technologies Corp. will post 0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC acquired a new position in CPS Technologies in the 2nd quarter worth $8,314,000. Engineers Gate Manager LP acquired a new stake in shares of CPS Technologies in the 2nd quarter valued at about $116,000. BlackRock Inc. acquired a new stake in shares of CPS Technologies in the 2nd quarter valued at about $2,352,000. GSA Capital Partners LLP bought a new stake in shares of CPS Technologies in the second quarter valued at about $269,000. Finally, Tema ETFs LLC lifted its holdings in shares of CPS Technologies by 55,189.2% in the second quarter. Tema ETFs LLC now owns 1,506,077 shares of the electronics maker’s stock valued at $8,314,000 after purchasing an additional 1,503,353 shares in the last quarter. Institutional investors and hedge funds own 11.18% of the company’s stock.

About CPS Technologies

CPS Technologies Corporation develops and manufactures advanced composite materials and engineered components for demanding industrial applications. The company’s products are designed to provide combinations of thermal management, electrical performance, lightweight construction, strength and durability that can be difficult to achieve with conventional materials.

Its product portfolio includes metal matrix composites such as aluminum-silicon carbide (AlSiC) and copper-based composites, along with ceramic matrix composite materials and related engineered structures.