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Casa Systems, Inc. (NASDAQ:CASA) Receives Average Recommendation of "Hold" from Analysts

Last updated on Tuesday, November 24, 2020 | 2020 MarketBeat

Shares of Casa Systems, Inc. (NASDAQ:CASA) have received an average rating of "Hold" from the seven research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.00.

A number of brokerages recently issued reports on CASA. ValuEngine lowered Casa Systems from a "buy" rating to a "hold" rating in a research report on Thursday, October 1st. Zacks Investment Research lowered Casa Systems from a "buy" rating to a "hold" rating in a research report on Friday, November 6th. Northland Securities reaffirmed a "buy" rating and set a $8.00 price target on shares of Casa Systems in a research report on Friday, July 31st. Finally, BidaskClub raised Casa Systems from a "strong sell" rating to a "sell" rating in a research report on Saturday, October 10th.

Shares of Casa Systems stock opened at $5.40 on Tuesday. The business's 50 day simple moving average is $4.52 and its 200 day simple moving average is $4.52. Casa Systems has a 52-week low of $1.85 and a 52-week high of $6.10. The firm has a market cap of $451.03 million, a PE ratio of -18.00 and a beta of 0.98. The company has a debt-to-equity ratio of 6.05, a quick ratio of 2.32 and a current ratio of 3.28.

Casa Systems (NASDAQ:CASA) last announced its earnings results on Wednesday, October 28th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.01 by $0.06. Casa Systems had a positive return on equity of 11.73% and a negative net margin of 6.24%. The business had revenue of $105.75 million for the quarter, compared to analyst estimates of $92.30 million. As a group, equities research analysts predict that Casa Systems will post -0.03 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Schonfeld Strategic Advisors LLC bought a new position in shares of Casa Systems during the 3rd quarter worth approximately $82,000. Paloma Partners Management Co bought a new position in shares of Casa Systems during the 3rd quarter worth approximately $106,000. Cubist Systematic Strategies LLC bought a new position in shares of Casa Systems during the 3rd quarter worth approximately $120,000. Squarepoint Ops LLC bought a new stake in Casa Systems in the 3rd quarter valued at $206,000. Finally, Boothbay Fund Management LLC boosted its stake in Casa Systems by 83.3% in the 3rd quarter. Boothbay Fund Management LLC now owns 73,526 shares of the company's stock valued at $296,000 after purchasing an additional 33,409 shares during the period. Institutional investors own 68.68% of the company's stock.

About Casa Systems

Casa Systems, Inc, a communications technology company, provides solutions for next-generation centralized, distributed, and virtualized architectures for cable broadband, fixed-line broadband, and wireless networks in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa.

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