Short Interest in CSP Inc. (NASDAQ:CSPI) Increases By 15.0%

CSP Inc. (NASDAQ:CSPI) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 463,500 shares, an increase of 15.0% from the March 15th total of 402,900 shares. Based on an average daily volume of 174,300 shares, the short-interest ratio is presently 2.7 days.

CSP Trading Up 5.5 %

CSPI traded up $0.89 on Tuesday, hitting $17.10. 77,542 shares of the company were exchanged, compared to its average volume of 163,716. CSP has a twelve month low of $4.91 and a twelve month high of $29.92. The company has a market cap of $166.04 million, a price-to-earnings ratio of 39.31 and a beta of 1.24. The firm has a 50-day moving average price of $19.13 and a two-hundred day moving average price of $13.59.

CSP (NASDAQ:CSPI) last released its earnings results on Wednesday, February 14th. The information technology services provider reported ($0.01) EPS for the quarter. The company had revenue of $15.38 million for the quarter. CSP had a return on equity of 8.76% and a net margin of 6.33%.

CSP Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Monday, February 26th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. CSP’s dividend payout ratio is currently 22.99%.

Insider Buying and Selling at CSP

In other CSP news, insider Joseph R. Nerges acquired 1,940 shares of the company’s stock in a transaction on Monday, March 11th. The shares were bought at an average cost of $17.97 per share, with a total value of $34,852.10. Following the completion of the acquisition, the insider now owns 1,335,366 shares in the company, valued at $23,989,850.19. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have acquired 3,140 shares of company stock valued at $57,400. Company insiders own 15.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Navellier & Associates Inc. acquired a new stake in shares of CSP in the 3rd quarter valued at about $367,000. Visionary Wealth Advisors boosted its position in shares of CSP by 0.6% in the 3rd quarter. Visionary Wealth Advisors now owns 284,040 shares of the information technology services provider’s stock valued at $4,971,000 after purchasing an additional 1,722 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of CSP by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 267,209 shares of the information technology services provider’s stock valued at $5,344,000 after purchasing an additional 6,861 shares during the period. EAM Investors LLC acquired a new stake in shares of CSP in the 3rd quarter valued at about $1,383,000. Finally, UBS Group AG acquired a new stake in shares of CSP in the 3rd quarter valued at about $38,000. 26.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on CSPI shares. TheStreet downgraded CSP from a “b-” rating to a “c” rating in a research report on Thursday, February 15th. StockNews.com downgraded CSP from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th.

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.