CSP Inc. (NASDAQ:CSPI) Short Interest Down 13.9% in November

CSP Inc. (NASDAQ:CSPI) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 195,500 shares, a drop of 13.9% from the October 31st total of 227,100 shares. Based on an average daily trading volume, of 21,700 shares, the short-interest ratio is currently 9.0 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of CSP from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th.

CSP Stock Performance

Shares of CSP stock opened at $16.23 on Tuesday. The stock’s fifty day moving average is $13.36 and its 200 day moving average is $13.93. CSP has a one year low of $8.22 and a one year high of $29.92. The stock has a market cap of $158.40 million, a P/E ratio of 57.96 and a beta of 1.38.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Barclays PLC purchased a new stake in CSP in the 3rd quarter worth $104,000. Copeland Capital Management LLC bought a new position in shares of CSP in the third quarter worth about $42,000. Apis Capital Advisors LLC grew its position in shares of CSP by 50.0% during the second quarter. Apis Capital Advisors LLC now owns 36,000 shares of the information technology services provider’s stock worth $536,000 after purchasing an additional 12,000 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in CSP by 122.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 197,556 shares of the information technology services provider’s stock valued at $2,944,000 after purchasing an additional 108,778 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in CSP by 3.7% in the 2nd quarter. Renaissance Technologies LLC now owns 442,226 shares of the information technology services provider’s stock worth $6,589,000 after purchasing an additional 15,800 shares in the last quarter. 26.74% of the stock is currently owned by institutional investors.

CSP Company Profile

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.