CSP (NASDAQ:CSPI) Announces Earnings Results

CSP (NASDAQ:CSPI) announced its earnings results on Tuesday. The information technology services provider reported $0.10 earnings per share (EPS) for the quarter, FiscalAI reports. CSP had a negative net margin of 2.78% and a negative return on equity of 3.35%. The business had revenue of $14.47 million for the quarter.

CSP Stock Performance

NASDAQ CSPI opened at $13.16 on Tuesday. The stock has a market cap of $129.76 million, a PE ratio of -77.41 and a beta of 0.67. The firm has a 50-day moving average of $12.12 and a 200-day moving average of $11.96. CSP has a 52-week low of $9.65 and a 52-week high of $21.95.

Institutional Trading of CSP

Several large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in CSP by 66.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 29,800 shares of the information technology services provider’s stock valued at $457,000 after acquiring an additional 11,850 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in shares of CSP during the 1st quarter worth approximately $186,000. Visionary Wealth Advisors boosted its position in shares of CSP by 5.7% during the 2nd quarter. Visionary Wealth Advisors now owns 740,187 shares of the information technology services provider’s stock worth $9,578,000 after purchasing an additional 39,738 shares in the last quarter. JPMorgan Chase & Co. grew its stake in CSP by 14.4% in the second quarter. JPMorgan Chase & Co. now owns 26,079 shares of the information technology services provider’s stock valued at $337,000 after acquiring an additional 3,279 shares during the period. Finally, Geode Capital Management LLC raised its holdings in CSP by 113.0% during the second quarter. Geode Capital Management LLC now owns 158,355 shares of the information technology services provider’s stock worth $2,049,000 after buying an additional 83,999 shares during the last quarter. Institutional investors and hedge funds own 26.74% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of CSP in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, CSP currently has an average rating of “Sell”.

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.