Casa Systems Inc (NASDAQ:CASA) shares, rose in value, with the stock price down by -78.64% to the previous day’s close as strong demand from buyers drove the stock to $0.05.
Actively observing the price movement in the last trading, the stock closed the session at $0.26. The value of beta (5-year monthly) was 1.29. Referring to stock’s 52-week performance, its high was $1.42, and the low was $0.24. On the whole, CASA has fluctuated by -86.90% over the past month.
With the market capitalization of Casa Systems Inc currently standing at about $5.45 million, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.12, which is expected to increase to -$0.08 for fiscal year -$0.84 and then to about -$0.2 by fiscal year 2024. Data indicates that the EPS growth is expected to be -18.30% in 2024, while the next year’s EPS growth is forecast to be 76.20%.
Analysts have estimated the company’s revenue for the quarter at $49.6 million, with a low estimate of $49.6 million and a high estimate of $49.6 million. According to the average forecast, sales growth in current quarter could jump down -41.20%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $215 million, representing a decrease of -25.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CASA’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CASA currently trading nearly -83.19% and -83.44% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 17.23, while the 7-day volatility ratio is showing 15.99% which for the 30-day chart, stands at 12.55%. Furthermore, Casa Systems Inc (CASA)’s beta value is 1.24, and its average true range (ATR) is 0.05.
A comparison of Casa Systems Inc (CASA) with its peers suggests the former has fared considerably weaker in the market. CASA showed an intraday change of -78.64% in last session, and over the past year, it shrunk by -95.67%%.
Data on historical trading for Casa Systems Inc (NASDAQ:CASA) indicates that the trading volumes over the past 10 days have averaged 6.46 million and over the past 3 months, they’ve averaged 290.97K. According to company’s latest data on outstanding shares, there are 99.11 million shares outstanding.
Nearly 62.73% of Casa Systems Inc’s shares belong to company insiders and institutional investors own 14.06% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.46 million shares as on Mar 15, 2024, resulting in a short ratio of 1.01. According to the data, the short interest in Casa Systems Inc (CASA) stood at 0.47% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 0.31 million. The stock has fallen by -89.62% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CASA stock heading into the next quarter.
