AllianceBernstein LP has recently announced that it has increased stake in Casa Systems Inc. (NASDAQ:CASA) by 0.57%. After grabbing 4.24 million shares, the institutional investor is now in possession of 24078.0 shares of the Technology Company. The new investment brought the stake of investor firm to 4.48% having worth around $15.34 million. Moreover, BlackRock Fund Advisors increased its share by 84545.0 to have a control over 2.2 million shares. And Invenomic Capital Management LP raised its holdings to 0.33 million shares by acquiring 2.02 million shares or 2.14% of the stake.
Casa Systems Inc. (CASA) concluded trading on 03/15/23 at a closing price of $1.78, with 3.0 million shares of worth about $5.34 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -46.71% during that period and on Wednesday the price saw a loss of about -49.00%. Currently the company’s common shares owned by public are about 94.51M shares, out of which, 40.65M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 3 analysts are covering the CASA stock and their offered price forecasts bring an average price target of $3.75. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $4.50 and could fall to a lowest price of $3.00. The stock’s current price level is 52.53% above of average price target set by the analysts, while a rise to estimated low would result in gain of 40.67% for the stock. However, touching the estimated high of $4.50 would mean a gain of 60.44% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 30 times over the past 12 months. They bought 1,562,561 shares in 24 of the transactions. In 6 selling transactions, insiders dumped 443,472 shares.
Northern Lights Fund Trust II – B, Vanguard Total Stock Market Index, and AB Small Cap Value Portfolio are the top 3 mutual funds which are holding stakes in Casa Systems Inc. Northern Lights Fund Trust II – B is currently holding 1.62 million shares of worth totaling $5.87 million. The company recently came buying 0.47 million shares which brought its stake up to 1.71% of the company’s outstanding shares. AB Small Cap Value Portfolio, after buying 0.94 million shares, have now control over 0.99% of the stake in the company. It holds 0.0 shares of worth $3.4 million.
Casa Systems Inc. (NASDAQ: CASA) started trading at $3.43, below -$0.06 from concluding price of the previous day. However, the stock later moved at a day high price of 3.4300, or with a loss of -49.00%. Stock saw a price change of -51.23% in past 5 days and over the past one month there was a price change of -53.16%. Year-to-date (YTD), CASA shares are showing a performance of -34.80% which decreased to -55.50% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.35 but also hit the highest price of $7.18 during that period. The average intraday trading volume for Casa Systems Inc. shares is 203.61K. The stock is currently trading -51.33% below its 20-day simple moving average (SMA20), while that difference is down -49.23% for SMA50 and it goes to -49.87% lower than SMA200.
AllianceBernstein LP acquired 4.24 million shares of Casa Systems Inc. having value of about $15.34 million. Data submitted at the U.S SEC by AllianceBernstein LP revealed that the firm now holds 24078.0 shares in the company valued at close to $42858.84, or have control over 0.57% stake in the company. Casa Systems Inc. (NASDAQ: CASA) currently have 94.51M outstanding shares and institutions hold larger chunk of about 73.70% of that. Holding of mutual funds in the company is about 13.90% while other institutional holders and individual stake holders have control over 63.10% and 11.86% of the stake respectively.
The stock has a current market capitalization of $173.59M and its 3Y-monthly beta is at 1.17. It has posted earnings per share of -$0.88 in the same period. It has Quick Ratio of 2.60 while making debt-to-equity ratio of 6.45. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CASA, volatility over the week remained 24.41% while standing at 9.52% over the month.
Analysts are in expectations that Casa Systems Inc. (CASA) stock would likely to be making an EPS of -$0.07 in the current quarter, while forecast for next quarter EPS is -$0.11 and it is -$0.13 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.07 which is -$0.07 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.07 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -87.60% while it is estimated to increase by 81.40% in next year.
Analysts at 3 brokerage firms have issued recommendations for the Casa Systems Inc. (CASA)’s stock out of those 3 Wall Street analysts, 1 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Northland Capital on January 17, 2023 offering an Outperform rating for the stock and assigned a target price range of between $4 and $5 to it. On August 08, 2022, Northland Capital Downgrade their recommendations, while on April 19, 2022, Northland Capital Upgrade their ratings for the stock with a price target of $10. Stock get an Outperform rating from Macquarie on January 21, 2022.
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