CSP Inc. (NASDAQ:CSPI) Short Interest Up 5.9% in September

CSP Inc. (NASDAQ:CSPI) was the recipient of a significant increase in short interest during 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 trading volume of 37,000 shares, the short-interest ratio is presently 6.6 days.

Analysts Set New Price Targets

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

CSP Stock Performance

NASDAQ CSPI opened at $13.33 on Friday. The firm has a market cap of $130.02 million, a PE ratio of 23.80 and a beta of 1.37. CSP has a one year low of $8.22 and a one year high of $29.92. The firm’s fifty day moving average is $13.07 and its two-hundred day moving average is $14.31.

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

CSP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 23rd were paid a $0.03 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.12 dividend on an annualized basis and a yield of 0.90%. CSP’s dividend payout ratio is presently 21.43%.

Insider Activity at CSP

In related news, Director C Shelton James sold 2,000 shares of the business’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 completion of the sale, the director now directly owns 109,606 shares of the company’s stock, valued at $1,561,885.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC acquired a new position in shares of CSP during the first quarter worth about $276,000. American Century Companies Inc. acquired a new position in shares of CSP during the second quarter worth about $503,000. 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 worth $536,000 after acquiring an additional 12,000 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of CSP by 122.5% during the second quarter. Mercer Global Advisors Inc. ADV now owns 197,556 shares of the information technology services provider’s stock worth $2,944,000 after acquiring an additional 108,778 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of CSP by 3.7% during the second quarter. Renaissance Technologies LLC now owns 442,226 shares of the information technology services provider’s stock worth $6,589,000 after acquiring an additional 15,800 shares during the period. 26.74% of the stock is currently owned by institutional investors and hedge funds.

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.