CPS Technologies (NASDAQ:CPSH) Shares Break Above 50-Day Moving Average – Here’s What Happened

Shares of CPS Technologies Corp. (NASDAQ:CPSH) crossed 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.

Analysts Set New Price Targets

Several research firms have weighed in on CPSH. Weiss Ratings cut CPS Technologies from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, August 14th. Roth Capital restated a “buy” rating and set 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 downgraded shares of CPS Technologies from a “hold” rating to a “sell” rating in a report on Sunday, August 16th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, CPS Technologies presently has an average rating of “Hold” and an average price target of $6.00.

CPS Technologies Stock Up 6.4%

The company has a 50 day moving average of $3.73 and a 200-day moving average of $4.70.

CPS Technologies (NASDAQ:CPSH) last issued its quarterly earnings data on Tuesday, November 3rd. The electronics maker reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $8.90 million during the quarter, compared to analyst estimates of $8.54 million. CPS Technologies had a negative return on equity of 0.14% and a negative net margin of 0.11%. On average, analysts predict that CPS Technologies Corp. will post 0.01 EPS for the current fiscal year.

Institutional Trading of CPS Technologies

A number of hedge funds have recently made changes to their positions in CPSH. Tema ETFs LLC grew its holdings in CPS Technologies by 55,189.2% during the 2nd quarter. Tema ETFs LLC now owns 1,506,077 shares of the electronics maker’s stock worth $8,314,000 after acquiring an additional 1,503,353 shares during the period. Tidal Investments LLC bought a new position in shares of CPS Technologies during the 2nd quarter worth $8,314,000. BlackRock Inc. bought a new position in shares of CPS Technologies during the 2nd quarter valued at about $2,352,000. Renaissance Technologies LLC raised its stake in CPS Technologies by 13.2% in the first quarter. Renaissance Technologies LLC now owns 248,958 shares of the electronics maker’s stock worth $931,000 after buying an additional 29,100 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in CPS Technologies by 54.1% in the 1st quarter. Sei Investments Co. now owns 186,790 shares of the electronics maker’s stock worth $699,000 after buying an additional 65,582 shares in the last quarter. 11.18% of the stock is owned by hedge funds and other institutional investors.

CPS Technologies Company Profile

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.