CSP (NASDAQ:CSPI) Stock Crosses Above 200-Day Moving Average of $19.29

CSP Inc. (NASDAQ:CSPIGet Free Report) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $19.29 and traded as high as $24.68. CSP shares last traded at $24.43, with a volume of 7,239 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com cut CSP from a “buy” rating to a “hold” rating in a report on Friday, February 2nd.

View Our Latest Report on CSP

CSP Trading Up 6.2 %

The firm has a fifty day simple moving average of $21.49 and a two-hundred day simple moving average of $19.29. The firm has a market cap of $115.55 million, a PE ratio of 22.21 and a beta of 1.04.

CSP (NASDAQ:CSPIGet Free Report) last released its quarterly earnings data on Tuesday, December 12th. The information technology services provider reported $0.30 earnings per share for the quarter. CSP had a return on equity of 11.32% and a net margin of 7.55%. The business had revenue of $15.33 million during the quarter.

CSP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 9th. Stockholders of record on Friday, December 22nd were given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Thursday, December 21st. CSP’s dividend payout ratio is currently 14.55%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG bought a new position in CSP during the 3rd quarter valued at approximately $38,000. JPMorgan Chase & Co. boosted its stake in CSP by 100.0% during the 1st quarter. JPMorgan Chase & Co. now owns 4,000 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 2,000 shares during the last quarter. State Street Corp purchased a new stake in CSP during the 1st quarter valued at $80,000. BlackRock Inc. boosted its stake in CSP by 112.9% during the 2nd quarter. BlackRock Inc. now owns 18,756 shares of the information technology services provider’s stock valued at $223,000 after purchasing an additional 9,948 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in CSP by 77.5% during the 2nd quarter. Geode Capital Management LLC now owns 20,413 shares of the information technology services provider’s stock valued at $243,000 after purchasing an additional 8,911 shares during the last quarter. Institutional investors own 24.40% of the company’s stock.

About CSP

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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.

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