CSP (NASDAQ:CSPI) Stock Passes Above 200-Day Moving Average – What’s Next?

Shares of CSP Inc. (NASDAQ:CSPI) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.27 and traded as high as $17.94. CSP shares last traded at $17.84, with a volume of 18,489 shares trading hands.

CSP Stock Up 3.1 %

The company has a 50-day simple moving average of $17.27 and a two-hundred day simple moving average of $15.27. The stock has a market cap of $176.26 million, a P/E ratio of 1,785.79 and a beta of 1.52.

CSP (NASDAQ:CSPI) last announced its earnings results on Monday, February 10th. The information technology services provider reported $0.05 EPS for the quarter. CSP had a return on equity of 0.17% and a net margin of 0.14%.

CSP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a dividend of $0.03 per share. The ex-dividend date was Monday, February 24th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.67%. CSP’s dividend payout ratio is presently 1,200.00%.

Hedge Funds Weigh In On CSP

A number of institutional investors have recently added to or reduced their stakes in the company. Visionary Wealth Advisors raised its holdings in CSP by 15.4% in the fourth quarter. Visionary Wealth Advisors now owns 766,842 shares of the information technology services provider’s stock worth $12,323,000 after purchasing an additional 102,544 shares in the last quarter. Navellier & Associates Inc. raised its holdings in CSP by 61.9% in the fourth quarter. Navellier & Associates Inc. now owns 61,576 shares of the information technology services provider’s stock worth $990,000 after purchasing an additional 23,550 shares in the last quarter. Northern Trust Corp raised its holdings in CSP by 39.9% in the fourth quarter. Northern Trust Corp now owns 38,838 shares of the information technology services provider’s stock worth $624,000 after purchasing an additional 11,075 shares in the last quarter. Millennium Management LLC raised its holdings in CSP by 19.5% in the fourth quarter. Millennium Management LLC now owns 28,570 shares of the information technology services provider’s stock worth $459,000 after purchasing an additional 4,659 shares in the last quarter. Finally, 683 Capital Management LLC bought a new position in CSP in the fourth quarter worth $321,000. 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.