Cloudastructure (NASDAQ:CSAI) Stock Falls 5.9% – Here’s What Happened

Cloudastructure Inc. (NASDAQ:CSAI)’s share price was down 5.9% during mid-day trading on Wednesday. The stock traded as low as $2.18 and last traded at $2.22. 47,716 shares were traded during trading, a decline of 58% from the average daily volume of 112,693 shares. The stock had previously closed at $2.36.

Wall Street Analysts Forecast Growth

CSAI has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Cloudastructure in a report on Friday, October 2nd. Maxim Group reduced their price objective on Cloudastructure from $120.00 to $45.00 and set a “buy” rating for the company in a report on Monday, July 20th. Finally, Wall Street Zen cut Cloudastructure to a “strong sell” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cloudastructure has an average rating of “Hold” and a consensus price target of $45.00.

Cloudastructure Price Performance

The firm has a market capitalization of $2.04 million, a P/E ratio of -0.16 and a beta of 1.29. The company has a quick ratio of 4.71, a current ratio of 4.96 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $4.09 and its 200-day moving average is $9.91.

Cloudastructure (NASDAQ:CSAI) last announced its quarterly earnings results on Tuesday, August 18th. The company reported ($2.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.70) by $0.38. Cloudastructure had a negative net margin of 145.25% and a negative return on equity of 167.05%. The company had revenue of $1.23 million for the quarter. As a group, sell-side analysts predict that Cloudastructure Inc. will post -9.75 EPS for the current fiscal year.

Cloudastructure Company Profile

Cloudastructure, Inc develops cloud-based video surveillance and security solutions for businesses and other organizations. Its platform is designed to manage security cameras, video storage and monitoring through a centralized cloud environment, reducing reliance on traditional on-premises recording and surveillance infrastructure.

The company’s solutions incorporate artificial intelligence and machine-learning capabilities to help customers analyze video, identify activity of interest and generate alerts.