CSP Inc. (NASDAQ:CSPI) Short Interest Down 64.0% in June

CSP Inc. (NASDAQ:CSPI) saw a large decrease in short interest in June. As of June 30th, there was short interest totaling 81,735 shares, a decrease of 64.0% from the June 15th total of 226,922 shares. Based on an average trading volume of 125,462 shares, the short-interest ratio is currently 0.7 days. Currently, 1.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of CSP from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On CSP

A number of large investors have recently made changes to their positions in CSPI. Bank of America Corp DE boosted its position in shares of CSP by 3,943.3% in the 2nd quarter. Bank of America Corp DE now owns 2,426 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 2,366 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in CSP in the second quarter valued at about $49,000. Raymond James Financial Inc. purchased a new stake in CSP in the second quarter valued at about $91,000. Wells Fargo & Company MN boosted its holdings in CSP by 72.6% in the fourth quarter. Wells Fargo & Company MN now owns 7,618 shares of the information technology services provider’s stock worth $95,000 after acquiring an additional 3,204 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in CSP in the second quarter worth about $122,000. 26.74% of the stock is owned by institutional investors and hedge funds.

CSP Trading Down 0.5%

Shares of NASDAQ:CSPI traded down $0.04 during trading on Wednesday, reaching $8.10. The stock had a trading volume of 2,415 shares, compared to its average volume of 28,152. CSP has a one year low of $7.51 and a one year high of $15.00. The company has a market capitalization of $81.58 million, a P/E ratio of -810.00 and a beta of 0.84. The firm’s 50-day simple moving average is $8.96 and its 200 day simple moving average is $9.59.

CSP (NASDAQ:CSPI) last issued its quarterly earnings data on Thursday, May 7th. The information technology services provider reported $0.03 earnings per share (EPS) for the quarter. CSP had a negative net margin of 0.20% and a negative return on equity of 0.25%. The firm had revenue of $16.01 million for the quarter.

CSP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Thursday, May 21st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, May 21st. CSP’s payout ratio is currently -1,200.00%.

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.