CSP Inc. (NASDAQ:CSPI) Insider Acquires $14,295.00 in Stock

Posted by on Jun 8th, 2022

CSP Inc. (NASDAQ:CSPI – Get Rating) insider Joseph R. Nerges bought 1,500 shares of the company’s stock in a transaction dated Wednesday, June 8th. The shares were purchased at an average cost of $9.53 per share, with a total value of $14,295.00. Following the acquisition, the insider now directly owns 496,000 shares of the company’s stock, valued at approximately $4,726,880. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Joseph R. Nerges also recently made the following trade(s):

  • On Thursday, April 7th, Joseph R. Nerges bought 2,291 shares of CSP stock. The shares were purchased at an average cost of $7.36 per share, with a total value of $16,861.76.

Shares of CSPI traded down $0.03 during midday trading on Wednesday, reaching $9.65. 11,777 shares of the stock were exchanged, compared to its average volume of 30,486. CSP Inc. has a twelve month low of $6.61 and a twelve month high of $11.94. The company has a quick ratio of 2.93, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. The company has a market cap of $43.74 million, a P/E ratio of 321.77 and a beta of 1.63. The stock’s 50 day simple moving average is $7.72 and its 200 day simple moving average is $8.03.

CSP (NASDAQ:CSPI – Get Rating) last posted its earnings results on Wednesday, May 11th. The information technology services provider reported $0.03 earnings per share for the quarter. CSP had a negative return on equity of 0.98% and a net margin of 0.29%. The company had revenue of $11.98 million during the quarter.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Visionary Wealth Advisors increased its position in shares of CSP by 0.9% in the first quarter. Visionary Wealth Advisors now owns 273,002 shares of the information technology services provider’s stock worth $2,151,000 after purchasing an additional 2,369 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of CSP by 14.5% in the first quarter. Mercer Global Advisors Inc. ADV now owns 39,389 shares of the information technology services provider’s stock worth $307,000 after purchasing an additional 5,000 shares during the period. State Street Corp bought a new position in shares of CSP in the first quarter worth $80,000. Finally, JPMorgan Chase & Co. increased its position in shares of CSP by 100.0% in the first quarter. JPMorgan Chase & Co. now owns 4,000 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 24.36% of the company’s stock.

About CSP (Get Rating)

CSP Inc develops and markets IT integration solutions, security products, managed IT 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.

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