CSP Inc. (NASDAQ:CSPI) Sees Large Growth in Short Interest

CSP Inc. (NASDAQ:CSPI) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 402,900 shares, a growth of 194.3% from the February 29th total of 136,900 shares. Based on an average trading volume of 164,600 shares, the short-interest ratio is currently 2.4 days.

Insider Buying and Selling at CSP

In other CSP news, insider Joseph R. Nerges purchased 1,940 shares of the business’s stock in a transaction on Monday, March 11th. The stock was bought at an average cost of $17.97 per share, for a total transaction of $34,852.10. Following the acquisition, the insider now owns 1,335,366 shares of the company’s stock, valued at approximately $23,989,850.19. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders acquired 3,140 shares of company stock worth $57,400. Insiders own 15.30% of the company’s stock.

Hedge Funds Weigh In On CSP

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSPI. Visionary Wealth Advisors raised its stake in shares of CSP by 0.6% in the 3rd quarter. Visionary Wealth Advisors now owns 284,040 shares of the information technology services provider’s stock valued at $4,971,000 after purchasing an additional 1,722 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of CSP by 100.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,000 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 2,000 shares in the last quarter. UBS Group AG acquired a new stake in shares of CSP in the 3rd quarter valued at about $38,000. Dimensional Fund Advisors LP raised its stake in shares of CSP by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 268,958 shares of the information technology services provider’s stock valued at $3,650,000 after purchasing an additional 3,374 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of CSP by 2.5% in the 1st quarter. Renaissance Technologies LLC now owns 162,963 shares of the information technology services provider’s stock valued at $2,215,000 after purchasing an additional 3,900 shares in the last quarter. 26.74% of the stock is owned by hedge funds and other institutional investors.

CSP Trading Down 1.8 %

Shares of CSP stock opened at $18.77 on Thursday. The company has a fifty day moving average price of $17.30 and a 200 day moving average price of $12.70. CSP has a twelve month low of $4.91 and a twelve month high of $29.92. The stock has a market cap of $182.26 million, a price-to-earnings ratio of 43.15 and a beta of 1.27.

CSP (NASDAQ:CSPI) last announced its quarterly earnings results on Wednesday, February 14th. The information technology services provider reported ($0.01) earnings per share for the quarter. CSP had a return on equity of 8.76% and a net margin of 6.33%. The business had revenue of $15.38 million for the quarter.

CSP Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Monday, February 26th were given a $0.025 dividend. The ex-dividend date was Friday, February 23rd. This represents a $0.10 dividend on an annualized basis and a yield of 0.53%. CSP’s payout ratio is currently 22.99%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com downgraded CSP from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. TheStreet downgraded CSP from a “b-” rating to a “c” rating in a report on Thursday, February 15th.

CSP Company Profile

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.