Casa Systems (CASA) Shares Down 11.8%

Casa Systems (NASDAQ:CASA)’s share price fell 11.8% on Tuesday . The stock traded as low as $25.18 and last traded at $26.28. 1,826,119 shares traded hands during trading, an increase of 208% from the average session volume of 592,162 shares. The stock had previously closed at $29.80.

Several research firms have weighed in on CASA. ValuEngine downgraded Casa Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, March 14th. Zacks Investment Research upgraded Casa Systems from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Tuesday, March 13th. Barclays restated an “equal weight” rating and set a $25.00 price objective (up previously from $21.00) on shares of Casa Systems in a report on Wednesday, March 7th. Morgan Stanley restated an “equal weight” rating and set a $23.00 price objective (up previously from $21.00) on shares of Casa Systems in a report on Wednesday, March 7th. Finally, Stifel Nicolaus raised their price objective on Casa Systems from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $25.71.

The company has a quick ratio of 3.87, a current ratio of 4.23 and a debt-to-equity ratio of 5.89. The firm has a market capitalization of $2,457.20 and a PE ratio of 33.27.

Casa Systems (NASDAQ:CASA) last posted its quarterly earnings data on Tuesday, March 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.22. The business had revenue of $117.96 million for the quarter, compared to analyst estimates of $101.43 million. research analysts forecast that Casa Systems will post 1.06 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of CASA. Gilder Gagnon Howe & Co. LLC acquired a new position in Casa Systems in the fourth quarter valued at $232,000. Wolverine Asset Management LLC acquired a new position in Casa Systems in the fourth quarter valued at $266,000. Needham Investment Management LLC acquired a new position in Casa Systems in the fourth quarter valued at $375,000. Quad Capital Management Advisors LLC acquired a new position in Casa Systems in the fourth quarter valued at $408,000. Finally, Goldman Sachs Group Inc. acquired a new position in Casa Systems in the fourth quarter valued at $583,000. Institutional investors and hedge funds own 53.91% of the company’s stock.

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Casa Systems Company Profile

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 software-centric infrastructure 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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