Short Interest in CSP Inc. (NASDAQ:CSPI) Decreases By 13.9%

CSP Inc. (NASDAQ:CSPI) was the recipient of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 195,500 shares, a decline of 13.9% from the October 31st total of 227,100 shares. Based on an average daily volume of 21,700 shares, the short-interest ratio is currently 9.0 days.

Hedge Funds Weigh In On CSP

Several institutional investors have recently bought and sold shares of CSPI. Barclays PLC bought a new position in CSP during the third quarter worth about $104,000. Copeland Capital Management LLC purchased a new stake in shares of CSP during the 3rd quarter valued at approximately $42,000. Apis Capital Advisors LLC boosted its holdings in CSP by 50.0% in the 2nd quarter. Apis Capital Advisors LLC now owns 36,000 shares of the information technology services provider’s stock worth $536,000 after buying an additional 12,000 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in CSP by 122.5% in 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 buying an additional 108,778 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in CSP by 3.7% during the 2nd quarter. Renaissance Technologies LLC now owns 442,226 shares of the information technology services provider’s stock valued at $6,589,000 after acquiring an additional 15,800 shares during the period. Hedge funds and other institutional investors own 26.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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

CSP Stock Performance

Shares of CSP stock opened at $16.25 on Friday. CSP has a 52-week low of $8.22 and a 52-week high of $29.92. The firm has a 50-day moving average of $13.29 and a 200-day moving average of $13.93. The stock has a market cap of $158.67 million, a PE ratio of 58.04 and a beta of 1.38.

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.