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After This Week’s -64.07% Loss In Casa Systems Inc. (NASDAQ: CASA), We Just Learned Something New

Casa Systems Inc. (NASDAQ:CASA)’s traded shares stood at 2.43 million during the last session, with the company’s beta value hitting 1.17. At the close of trading, the stock’s price was $1.29, to imply a decrease of -25.86% or -$0.45 in intraday trading. The CASA share’s 52-week high remains $7.18, putting it -456.59% down since that peak but still an impressive -33.33% since price per share fell to its 52-week low of $1.72. The company has a valuation of $125.80M, with an average of 0.61 million shares in intraday trading volume over the past 10 days and average of 273.77K shares over the past 3 months.

Casa Systems Inc. (NASDAQ:CASA) trade information

After registering a -25.86% downside in the last session, Casa Systems Inc. (CASA) has traded red over the past five days. The stock hit a weekly high of 3.7800 this Friday, 03/17/23, dropping -25.86% in its intraday price action. The 5-day price performance for the stock is -64.07%, and -66.67% over 30 days. With these gigs, the year-to-date price performance is -52.75%. Short interest in Casa Systems Inc. (NASDAQ:CASA) saw shorts transact 2.31 million shares and set a 13.33 days time to cover.

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Analysts on Wall Street suggest a consensus price target of $3.75, implying an increase of 65.6% to the stock’s current value. The extremes give us $3.00 and $4.50 for target low and target high price respectively. As such, CASA has been trading -248.84% off suggested target high and -132.56% from its likely low.

Casa Systems Inc. (CASA) estimates and forecasts

Looking at statistics comparing Casa Systems Inc. share performance against respective industry, we note that the company has outperformed competitors. Casa Systems Inc. (CASA) shares are -62.93% down over the last 6 months, with its year-to-date growth rate higher than industry average at 69.01% against 0.70%. Revenue is forecast to grow 58.80% this quarter before jumping 40.00% for the next one. The rating firms project that company’s revenue will grow 9.90% compared to the previous financial year.

Revenue forecast for the current quarter as set by 1 analysts is $56.69 million. Meanwhile, for the quarter ending Jun 2023, a total of 1 analyst(s) estimate revenue growth to $66.14 million.Earnings reports from the last fiscal year show that sales brought in $79.21 million and $71.81 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -28.40% before dropping -7.90% in the following quarter.

CASA Dividends

Casa Systems Inc. has its next earnings report out between May 02 and May 08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Casa Systems Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Casa Systems Inc. (NASDAQ:CASA)’s Major holders

Casa Systems Inc. insiders hold 21.50% of total outstanding shares, with institutional holders owning 72.44% of the shares at 92.28% float percentage. In total, 72.44% institutions holds shares in the company, led by Summit Partners, L.P. As of Dec 30, 2022, the company held over 34.12 million shares (or 36.06% of shares), all amounting to roughly $44.02 million.

The next major institution holding the largest number of shares is AllianceBernstein, L.P. with 4.24 million shares, or about 4.48% of shares outstanding. As of the market price on Dec 30, 2022, these shares were worth $5.47 million.

We also have Northern Lights Fd Tr II-Invenomic Fd and ETF Series Solutions-Defiance Next Gen Connectivity ETF as the top two Mutual Funds with the largest holdings of the Casa Systems Inc. (CASA) shares. Going by data provided on Oct 30, 2022, Northern Lights Fd Tr II-Invenomic Fd holds roughly 1.62 million shares. This is just over 1.71% of the total shares, with a market valuation of $2.09 million. Data from the same date shows that the other fund manager holds a little less at 0.98 million, or 1.03% of the shares, all valued at about 1.26 million.

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