CSP (CSPI) Rating Lowered to Hold at ValuEngine

CSP (NASDAQ:CSPI) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Shares of CSPI stock opened at $11.95 on Thursday. The company has a market cap of $51.42 million, a P/E ratio of 44.14 and a beta of 1.19. CSP has a 12 month low of $8.75 and a 12 month high of $18.89.

CSP (NASDAQ:CSPI) last announced its quarterly earnings results on Monday, August 13th. The information technology services provider reported $0.11 EPS for the quarter. The company had revenue of $20.04 million for the quarter. CSP had a negative net margin of 0.43% and a positive return on equity of 5.89%.

In other CSP news, Director C Shelton James sold 2,000 shares of the stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $13.50, for a total value of $27,000.00. Following the sale, the director now directly owns 36,803 shares in the company, valued at approximately $496,840.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.20% of the company’s stock.

A hedge fund recently raised its stake in CSP stock. BlackRock Inc. boosted its position in CSP Inc. (NASDAQ:CSPI) by 702.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,393 shares of the information technology services provider’s stock after purchasing an additional 9,098 shares during the quarter. BlackRock Inc. owned about 0.26% of CSP worth $103,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 26.41% of the stock is owned by institutional investors.

About CSP

CSP Inc develops and markets IT integration solutions, security and managed services, purpose built network adapters, and cluster computer systems for commercial and defense customers worldwide. The company's High Performance Products segment offers computing systems for digital signal processing applications in the defense market; Ethernet adapters and solutions for various applications in the packet capture, financial transaction, and storage interconnect markets; ARC Series adapters for automated trading and network monitoring; and nVoy Series products comprising 100G Packet Broker and 10G Packet Recorder, and specialized software under the Myricom brand.

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