CSP Inc. (NASDAQ:CSPI) Sees Significant Increase in Short Interest

CSP Inc. (NASDAQ:CSPI) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 244,100 shares, an increase of 5.9% from the September 15th total of 230,500 shares. Based on an average daily trading volume, of 37,000 shares, the days-to-cover ratio is currently 6.6 days.

Analyst Ratings Changes

Separately, StockNews.com cut CSP from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th.

CSP Stock Up 4.3 %

Shares of NASDAQ:CSPI traded up $0.55 on Thursday, hitting $13.33. The company had a trading volume of 20,593 shares, compared to its average volume of 90,049. The firm’s 50-day simple moving average is $13.11 and its two-hundred day simple moving average is $14.32. CSP has a 1 year low of $8.22 and a 1 year high of $29.92. The firm has a market capitalization of $130.02 million, a price-to-earnings ratio of 22.82 and a beta of 1.37.

CSP (NASDAQ:CSPI) last released its quarterly earnings results on Tuesday, August 13th. The information technology services provider reported ($0.02) earnings per share (EPS) for the quarter. The company had revenue of $13.11 million during the quarter. CSP had a return on equity of 5.38% and a net margin of 4.42%.

CSP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 23rd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.12 annualized dividend and a dividend yield of 0.90%. CSP’s dividend payout ratio is presently 21.43%.

Insider Buying and Selling

In other CSP news, Director C Shelton James sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $14.25, for a total value of $28,500.00. Following the sale, the director now owns 109,606 shares of the company’s stock, valued at $1,561,885.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.60% of the stock is owned by insiders.

Institutional Investors Weigh In On CSP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Apis Capital Advisors LLC increased its stake in shares of CSP by 50.0% during the second quarter. Apis Capital Advisors LLC now owns 36,000 shares of the information technology services provider’s stock valued at $536,000 after purchasing an additional 12,000 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of CSP in the 1st quarter worth $276,000. Renaissance Technologies LLC boosted its position in CSP by 3.7% in the second quarter. Renaissance Technologies LLC now owns 442,226 shares of the information technology services provider’s stock worth $6,589,000 after purchasing an additional 15,800 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of CSP during the 2nd quarter valued at about $503,000. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of CSP by 122.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 197,556 shares of the information technology services provider’s stock valued at $2,944,000 after purchasing an additional 108,778 shares during the last quarter. 26.74% of the stock is owned by hedge funds and other 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.