Short Interest in CSP Inc. (NASDAQ:CSPI) Grows By 15.0%

CSP Inc. (NASDAQ:CSPI) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 463,500 shares, a growth of 15.0% from the March 15th total of 402,900 shares. Based on an average daily trading volume, of 174,300 shares, the days-to-cover ratio is currently 2.7 days.

CSP Stock Up 5.5 %

CSPI stock traded up $0.89 during mid-day trading on Tuesday, reaching $17.10. 77,542 shares of the stock traded hands, compared to its average volume of 163,716. CSP has a 52 week low of $4.91 and a 52 week high of $29.92. The business has a 50-day moving average of $19.13 and a two-hundred day moving average of $13.59. The firm has a market capitalization of $166.04 million, a PE ratio of 39.31 and a beta of 1.24.

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

CSP Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Monday, February 26th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Friday, February 23rd. CSP’s dividend payout ratio (DPR) is 22.99%.

Analyst Upgrades and Downgrades

CSPI has been the topic of several analyst reports. TheStreet downgraded shares of CSP from a “b-” rating to a “c” rating in a research report on Thursday, February 15th. StockNews.com downgraded shares of CSP from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th.

Insiders Place Their Bets

In other CSP news, insider Joseph R. Nerges bought 1,940 shares of the stock in a transaction on Monday, March 11th. The shares were purchased at an average cost of $17.97 per share, with a total value of $34,852.10. Following the completion of the transaction, the insider now directly owns 1,335,366 shares of the company’s stock, valued at approximately $23,989,850.19. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired 3,140 shares of company stock valued at $57,400 over the last three months. 15.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CSP

A number of hedge funds have recently bought and sold shares of the company. Visionary Wealth Advisors lifted its stake in shares of CSP by 3.3% in the fourth quarter. Visionary Wealth Advisors now owns 293,403 shares of the information technology services provider’s stock valued at $5,868,000 after buying an additional 9,363 shares during the period. Northern Trust Corp bought a new stake in shares of CSP in the fourth quarter valued at about $305,000. Navellier & Associates Inc. lifted its stake in shares of CSP by 53.4% in the fourth quarter. Navellier & Associates Inc. now owns 32,204 shares of the information technology services provider’s stock valued at $628,000 after buying an additional 11,215 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of CSP by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 267,209 shares of the information technology services provider’s stock valued at $5,344,000 after buying an additional 6,861 shares during the period. Finally, EAM Investors LLC bought a new stake in shares of CSP in the third quarter valued at about $1,383,000. 26.74% of the stock is currently owned by institutional investors.

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.