Casa Systems Inc (NASDAQ:CASA) shares shot up 5.8% during trading on Friday . The company traded as high as $3.35 and last traded at $3.31, 502,200 shares traded hands during mid-day trading. An increase of 21% from the average session volume of 416,288 shares. The stock had previously closed at $3.13.
A number of brokerages have recently commented on CASA. Needham & Company LLC restated a “hold” rating on shares of Casa Systems in a research note on Friday, November 1st. Barclays restated a “hold” rating and issued a $7.00 target price on shares of Casa Systems in a research note on Sunday, November 3rd. Zacks Investment Research downgraded Casa Systems from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 6th. Raymond James downgraded Casa Systems from a “market perform” rating to an “underperform” rating in a research note on Tuesday, July 30th. Finally, Northland Securities downgraded Casa Systems from an “outperform” rating to a “market perform” rating and set a $7.00 target price on the stock. in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $9.93.
The company has a quick ratio of 2.16, a current ratio of 3.26 and a debt-to-equity ratio of 4.53. The stock has a market cap of $275.80 million, a PE ratio of 4.14 and a beta of 0.87. The business has a 50 day moving average price of $5.36 and a 200 day moving average price of $6.23.
Casa Systems (NASDAQ:CASA) last issued its earnings results on Thursday, October 31st. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.13). Casa Systems had a positive return on equity of 0.01% and a negative net margin of 3.22%. The company had revenue of $81.80 million during the quarter, compared to analysts’ expectations of $108.08 million. During the same quarter in the previous year, the company earned $0.22 EPS. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, research analysts predict that Casa Systems Inc will post -0.28 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cutler Group LP raised its holdings in Casa Systems by 3,864.0% in the 2nd quarter. Cutler Group LP now owns 3,964 shares of the company’s stock worth $25,000 after purchasing an additional 3,864 shares during the period. Quantamental Technologies LLC raised its holdings in Casa Systems by 1,044.9% in the 2nd quarter. Quantamental Technologies LLC now owns 5,896 shares of the company’s stock worth $38,000 after purchasing an additional 5,381 shares during the period. Bank of Montreal Can raised its holdings in Casa Systems by 590,300.0% in the 2nd quarter. Bank of Montreal Can now owns 5,904 shares of the company’s stock worth $38,000 after purchasing an additional 5,903 shares during the period. Russell Investments Group Ltd. acquired a new position in Casa Systems in the 2nd quarter worth about $63,000. Finally, Menta Capital LLC acquired a new position in Casa Systems in the 2nd quarter worth about $66,000. 66.82% of the stock is owned by institutional investors.
Casa Systems Company Profile (NASDAQ:CASA)
Casa Systems, Inc provides software-centric broadband products in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers solutions that allow cable service providers to deliver voice, video, and data services over a single platform at multi-gigabit speeds.
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