Stocks of Casa Systems Inc. (NASDAQ:CASA) traded higher last session on Wall Street, down -2.33% to $3.36.
According to the data, Casa Systems Inc. (NASDAQ:CASA) has 3 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $5.00 and a low of $2.50, we find $3.75. Given the previous closing price of $3.44, this indicates a potential upside of 9.01 percent. CASA stock price is now 15.50% away from the 50-day moving average and -9.20% away from the 200-day moving average. The market capitalization of the company currently stands at $318.80M.
A total of 2 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $3.75 as their price target over the next twelve months.
With the price target enhanced from $4 to $5, Northland Capital Upgraded its rating from Market Perform to Outperform for Casa Systems Inc. (NASDAQ: CASA)., while ‘Northland Capital’ rates the stock as ‘Market Perform’.
In other news, STYSLINGER WILLIAM C III, Director bought 1,000 shares of the company’s stock on May 26. The stock was bought for $4,050 at an average price of $4.05. Upon completion of the transaction, the Director now directly owns 654,136 shares in the company, valued at $2.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 25, Director STYSLINGER WILLIAM C III bought 83,923 shares of the business’s stock. A total of $336,531 was incurred on buying the stock at an average price of $4.01. This leaves the insider owning 653,136 shares of the company worth $2.19 million. Insiders disposed of 536,628 shares of company stock worth roughly $1.8 million over the past 1 year. A total of 21.45% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CASA stock. A new stake in Casa Systems Inc. shares was purchased by VIEX CAPITAL ADVISORS, LLC during the first quarter worth $1,039,000. WIPFLI FINANCIAL ADVISORS LLC, invested $336,000 in shares of CASA during the first quarter. In the first quarter, MILLENNIUM MANAGEMENT LLC acquired a new stake in Casa Systems Inc. valued at approximately $97,000. ALHAMBRA INVESTMENT PARTNERS LLC acquired a new stake in CASA for approximately $70,000. BALYASNY ASSET MANAGEMENT LLC purchased a new stake in CASA valued at around $69,000 in the second quarter. In total, there are 139 active investors with 73.70% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $3.4100 for Casa Systems Inc. (NASDAQ: CASA). During the past 12 months, Casa Systems Inc. has had a low of $2.35 and a high of $7.18. As of last week, the company has a debt-to-equity ratio of 6.45, a current ratio of 3.40, and a quick ratio of 2.60. The fifty day moving average price for CASA is $2.9091 and a two-hundred day moving average price translates $3.7003 for the stock.
The latest earnings results from Casa Systems Inc. (NASDAQ: CASA) was released for Jun, 2022. According to the Communication Equipment Company, earnings per share came in at -$0.15, beating analysts’ expectations of -$0.24 by 0.09. This compares to -$0.01 EPS in the same period last year. The net profit margin was -25.70% and return on equity was -127.70% for CASA. The company reported revenue of $66.9 million for the quarter, compared to $99.22 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -32.57 percent. For the current quarter, analysts expect CASA to generate $74.32M in revenue.
Casa Systems Inc.(CASA) Company Profile
Casa Systems, Inc., a communications technology company, provides solutions for next-generation physical, virtualized, and cloud native architectures for cable broadband, fixed-line broadband, and wireless networks in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa. It offers converged cable access platforms; wireless network core products, such as virtual evolved packet and 5G core products, as well as small cell solutions, axyom element management system, and fixed wireless access devices; and virtual, centralized, and distributed deployment, and bandwidth capacity expansion systems. The company also provides optical access solutions, virtualized broadband network gateway router and multiservice router, fiber extension, and residential broadband gateways; and machine-to-machine and industrial internet of things routers. The company was incorporated in 2003 and is headquartered in Andover, Massachusetts.