Casa Systems Inc (NASDAQ:CASA)’s share price rose 6.4% on Friday . The stock traded as high as $4.58 and last traded at $4.49, approximately 540,491 shares changed hands during mid-day trading. A decline of 27% from the average daily volume of 735,955 shares. The stock had previously closed at $4.22.
CASA has been the subject of several research reports. Zacks Investment Research upgraded shares of Casa Systems from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a report on Wednesday, January 29th. Northland Securities raised shares of Casa Systems from a “market perform” rating to an “outperform” rating and set a $6.00 price target for the company in a research report on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Casa Systems in a research report on Friday, November 1st. Finally, Barclays reissued a “hold” rating and issued a $7.00 price target on shares of Casa Systems in a research report on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $8.10.
The company has a debt-to-equity ratio of 4.53, a quick ratio of 2.16 and a current ratio of 3.26. The company has a market cap of $357.95 million, a PE ratio of -44.95 and a beta of 0.63. The company’s 50-day simple moving average is $4.03 and its 200 day simple moving average is $5.24.
A number of hedge funds have recently modified their holdings of CASA. Tower Research Capital LLC TRC purchased a new position in Casa Systems in the 4th quarter valued at approximately $29,000. Marshall Wace North America L.P. purchased a new position in Casa Systems in the 1st quarter valued at approximately $75,000. Metropolitan Life Insurance Co NY purchased a new position in Casa Systems in the 3rd quarter valued at approximately $85,000. Squarepoint Ops LLC purchased a new position in Casa Systems in the 3rd quarter valued at approximately $88,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Casa Systems in the 4th quarter valued at approximately $92,000. 69.38% 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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