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CPS Technologies Corp (NASDAQ:CPSH) President and CEO Brian T. Mackey recently purchased a total of $31,055 worth of common stock in a series of transactions over three consecutive days. According to a regulatory filing, Mackey acquired 20,000 shares in total, with prices ranging from $1.5476 to $1.5642 per share. The company, with a market capitalization of $22.73 million, maintains a strong balance sheet with more cash than debt, according to InvestingPro data.
The purchases, which took place between March 17 and March 19, 2025, were made in three separate transactions. On March 17, Mackey acquired 7,500 shares at $1.5503 per share. The following day, he purchased another 7,500 shares at $1.5476 per share, and on March 19, he added 5,000 shares at $1.5642 per share. These acquisitions bring Mackey’s total direct ownership to 20,000 shares. The stock currently trades at $1.62, with a healthy current ratio of 3.29, indicating strong short-term liquidity.
This activity highlights a significant increase in Mackey’s direct stake in the company, signaling potential confidence in CPS Technologies’ future prospects. InvestingPro analysis suggests the stock is slightly undervalued at current levels, with additional insights available in the comprehensive Pro Research Report, part of the extensive coverage of over 1,400 US stocks.
In other recent news, CPS Technologies reported a net loss of $1 million for the fourth quarter of 2024, with revenues decreasing to $5.9 million from $6.7 million in the previous year. The decline in revenue was primarily attributed to the completion of a significant armor contract and increased production costs. Despite these challenges, the company has been expanding its production capacity and has secured new contracts, which may indicate potential growth in military and aerospace applications. CPS Technologies has also been focusing on new product lines and technologies, particularly in these sectors, with expectations of continued growth in fiscal 2025.
The company aims to achieve $15-20 million in revenue with 15-20% gross margins in the coming year. Additionally, CPS Technologies is actively fulfilling a $13.3 million contract with a semiconductor manufacturer, which is expected to contribute to its financial performance. Analysts from firms such as PKF O’Connor Davies have been involved in auditing the company, reflecting a strategic shift in CPS Technologies’ financial oversight. The company is also working on various development projects funded by the U.S. government, which are expected to expand its product portfolio and align with customer demand.
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