CSP Inc. (NASDAQ:CSPI) Sees Large Growth in Short Interest

CSP Inc. (NASDAQ:CSPI) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 204,200 shares, an increase of 7.0% from the December 31st total of 190,900 shares. Based on an average daily trading volume, of 30,100 shares, the days-to-cover ratio is presently 6.8 days.

Institutional Investors Weigh In On CSP

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSPI. Navellier & Associates Inc. boosted its holdings in shares of CSP by 61.9% during the 4th quarter. Navellier & Associates Inc. now owns 61,576 shares of the information technology services provider’s stock worth $990,000 after buying an additional 23,550 shares during the period. Copeland Capital Management LLC boosted its stake in CSP by 39.2% during the fourth quarter. Copeland Capital Management LLC now owns 4,532 shares of the information technology services provider’s stock worth $73,000 after buying an additional 1,277 shares in the last quarter. Finally, Barclays PLC bought a new stake in CSP in the 3rd quarter valued at $104,000. 26.74% of the stock is currently owned by institutional investors and hedge funds.

CSP Stock Down 1.2 %

Shares of NASDAQ CSPI traded down $0.23 during mid-day trading on Tuesday, hitting $19.06. 11,945 shares of the company traded hands, compared to its average volume of 27,620. The stock has a market capitalization of $188.26 million, a price-to-earnings ratio of -381.02 and a beta of 1.46. The business has a 50 day moving average of $16.74 and a two-hundred day moving average of $14.59. CSP has a 1 year low of $10.06 and a 1 year high of $29.92.

CSP (NASDAQ:CSPI) last issued its earnings results on Friday, December 20th. The information technology services provider reported ($0.18) earnings per share for the quarter. CSP had a negative net margin of 0.78% and a negative return on equity of 0.91%.

CSP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 27th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Friday, December 27th. CSP’s payout ratio is -239.95%.

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.