Casa Systems (CASA) Hits New 52-Week Low at $6.06

Casa Systems Inc (NASDAQ:CASA) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $6.06 and last traded at $6.06, with a volume of 291 shares. The stock had previously closed at $6.25.

Several research analysts recently commented on CASA shares. Zacks Investment Research raised shares of Casa Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Raymond James downgraded shares of Casa Systems from an “outperform” rating to a “market perform” rating in a research note on Friday, February 22nd. DA Davidson started coverage on shares of Casa Systems in a research note on Monday, March 18th. They issued a “buy” rating and a $12.00 target price on the stock. ValuEngine downgraded shares of Casa Systems from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Finally, William Blair downgraded shares of Casa Systems from an “outperform” rating to a “market perform” rating in a research note on Friday, February 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.63.

The company has a debt-to-equity ratio of 4.47, a quick ratio of 4.23 and a current ratio of 5.12. The company has a market capitalization of $499.63 million, a P/E ratio of 7.45 and a beta of -0.30.

Casa Systems (NASDAQ:CASA) last issued its earnings results on Wednesday, May 1st. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.18). The firm had revenue of $35.50 million during the quarter, compared to analysts’ expectations of $55.83 million. Casa Systems had a return on equity of 51.33% and a net margin of 16.38%. The firm’s quarterly revenue was down 60.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share. On average, analysts predict that Casa Systems Inc will post -0.08 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in CASA. Vanguard Group Inc boosted its holdings in Casa Systems by 161.1% in the third quarter. Vanguard Group Inc now owns 2,539,709 shares of the company’s stock valued at $37,461,000 after acquiring an additional 1,567,015 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Casa Systems by 161.1% in the third quarter. Vanguard Group Inc. now owns 2,539,709 shares of the company’s stock valued at $37,461,000 after acquiring an additional 1,567,015 shares in the last quarter. American Century Companies Inc. bought a new stake in Casa Systems in the fourth quarter valued at $10,925,000. Elk Creek Partners LLC boosted its holdings in shares of Casa Systems by 59.7% during the 1st quarter. Elk Creek Partners LLC now owns 1,778,520 shares of the company’s stock valued at $14,762,000 after buying an additional 664,521 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Casa Systems by 1,038.1% during the 3rd quarter. Morgan Stanley now owns 584,987 shares of the company’s stock valued at $8,628,000 after buying an additional 533,585 shares in the last quarter. Institutional investors and hedge funds own 67.65% of the company’s stock.

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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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