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

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

CSP Stock Performance

CSP stock opened at $13.33 on Friday. CSP has a fifty-two week low of $8.22 and a fifty-two week high of $29.92. The firm has a 50 day moving average price of $13.07 and a 200 day moving average price of $14.31. The company has a market capitalization of $130.02 million, a PE ratio of 23.80 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 company had revenue of $13.11 million during the quarter.

CSP Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Transactions at CSP

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

Hedge Funds Weigh In On CSP

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSPI. Vanguard Group Inc. boosted its position in CSP by 102.4% in the 1st quarter. Vanguard Group Inc. now owns 409,566 shares of the information technology services provider’s stock valued at $7,561,000 after buying an additional 207,253 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in CSP in the 1st quarter valued at approximately $276,000. American Century Companies Inc. purchased a new position in CSP in the 2nd quarter valued at approximately $503,000. Renaissance Technologies LLC boosted its position in CSP by 3.7% in 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 buying an additional 15,800 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its position 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 during the period. Hedge funds and other institutional investors 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.