Short Interest in CSP Inc. (NASDAQ:CSPI) Declines By 13.0%

CSP Inc. (NASDAQ:CSPI) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 246,900 shares, a drop of 13.0% from the August 15th total of 283,900 shares. Based on an average daily trading volume, of 41,600 shares, the short-interest ratio is presently 5.9 days.

Insider Activity at CSP

In related news, Director C Shelton James sold 2,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $14.25, for a total transaction of $28,500.00. Following the sale, the director now directly owns 109,606 shares of the company’s stock, valued at $1,561,885.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 5,740 shares of company stock valued at $79,191 over the last ninety days. Insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of CSP by 102.4% in the first quarter. Vanguard Group Inc. now owns 409,566 shares of the information technology services provider’s stock worth $7,561,000 after buying an additional 207,253 shares during the period. O Shaughnessy Asset Management LLC bought a new position in shares of CSP in the first quarter worth about $276,000. Visionary Wealth Advisors raised 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 worth $5,868,000 after buying an additional 9,363 shares during the period. American Century Companies Inc. bought a new position in shares of CSP in the second quarter worth about $503,000. Finally, Renaissance Technologies LLC raised its stake in shares of 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 buying an additional 15,800 shares during the period. Institutional investors own 26.74% of the company’s stock.

Analysts Set New Price Targets

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

CSP Trading Down 4.8 %

CSPI stock traded down $0.62 during trading on Wednesday, reaching $12.26. The stock had a trading volume of 27,034 shares, compared to its average volume of 98,514. CSP has a 52 week low of $7.76 and a 52 week high of $29.92. The stock’s 50 day moving average is $14.07 and its two-hundred day moving average is $15.37. The firm has a market cap of $119.58 million, a PE ratio of 21.89 and a beta of 1.37.

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

CSP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 23rd were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Friday, August 23rd. CSP’s dividend payout ratio (DPR) is currently 21.43%.

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.