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

CSP Inc. (NASDAQ:CSPI) crossed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $8.52 and traded as low as $7.63. CSP shares last traded at $7.63, with a volume of 3,847 shares trading hands.

Analysts Set New Price Targets

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

CSP Trading Down 0.3%

The firm has a market cap of $76.91 million, a PE ratio of -108.98 and a beta of 0.87. The business’s 50-day simple moving average is $7.88 and its 200 day simple moving average is $8.52.

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

CSP Announces Dividend

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

Institutional Trading of CSP

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Visionary Wealth Advisors purchased a new stake in shares of CSP during the 2nd quarter worth $6,361,000. Squarepoint Ops LLC purchased a new position in CSP in the second quarter valued at about $196,000. BlackRock Inc. bought a new position in CSP in the second quarter worth about $512,000. Bank of New York Mellon Corp bought a new position in CSP in the second quarter worth about $364,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of CSP during the second quarter valued at about $233,000. Institutional investors 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 services and high-performance networking products. Through its Technology Solutions segment, the company offers systems integration, managed services, cloud and infrastructure support, cybersecurity and related professional services for commercial, government and defense customers.

CSP also develops and supplies specialized networking products through its High Performance Products segment.