CSP (NASDAQ:CSPI) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

CSP Inc. (NASDAQ:CSPI)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $15.16 and traded as high as $16.07. CSP shares last traded at $15.50, with a volume of 41,280 shares changing hands.

CSP Trading Up 1.4 %

The firm has a market cap of $153.14 million, a price-to-earnings ratio of 1,551.55 and a beta of 1.52. The stock has a 50-day moving average of $17.30 and a 200-day moving average of $15.16.

CSP (NASDAQ:CSPI) last announced its quarterly earnings results on Monday, February 10th. The information technology services provider reported $0.05 earnings per share (EPS) for the quarter. CSP had a return on equity of 0.17% and a net margin of 0.14%.

CSP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a dividend of $0.03 per share. The ex-dividend date was Monday, February 24th. This represents a $0.12 dividend on an annualized basis and a yield of 0.77%. CSP’s dividend payout ratio (DPR) is presently 1,200.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Copeland Capital Management LLC raised its stake in shares of CSP by 39.2% in the 4th quarter. Copeland Capital Management LLC now owns 4,532 shares of the information technology services provider’s stock worth $73,000 after buying an additional 1,277 shares in the last quarter. Barclays PLC bought a new stake in shares of CSP in the 3rd quarter worth $104,000. Jane Street Group LLC bought a new stake in shares of CSP in the 4th quarter worth $256,000. 683 Capital Management LLC bought a new stake in shares of CSP in the 4th quarter worth $321,000. Finally, Millennium Management LLC raised its stake in shares of CSP by 19.5% in the 4th quarter. Millennium Management LLC now owns 28,570 shares of the information technology services provider’s stock worth $459,000 after buying an additional 4,659 shares in the last quarter. Institutional investors and hedge funds own 26.74% of the company’s stock.

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.