Cloudastructure (NASDAQ:CSAI) Releases Earnings Results, Beats Estimates By $0.38 EPS

Cloudastructure (NASDAQ:CSAI) announced its quarterly earnings results on Tuesday. The company reported ($2.32) earnings per share for the quarter, topping the consensus estimate of ($2.70) by $0.38, FiscalAI reports. Cloudastructure had a negative net margin of 153.89% and a negative return on equity of 140.82%. The company had revenue of $1.23 million for the quarter.

Cloudastructure Stock Down 7.0%

CSAI stock opened at $5.30 on Wednesday. Cloudastructure has a twelve month low of $3.53 and a twelve month high of $69.15. The stock has a market capitalization of $4.40 million, a price-to-earnings ratio of -0.33 and a beta of 1.14. The firm’s fifty day simple moving average is $8.68 and its two-hundred day simple moving average is $14.60.

Wall Street Analysts Forecast Growth

CSAI has been the topic of a number of research reports. Maxim Group reduced their target price on shares of Cloudastructure from $120.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Wall Street Zen downgraded shares of Cloudastructure to a “strong sell” rating in a report on Saturday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cloudastructure in a research report on Monday, July 6th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Cloudastructure presently has an average rating of “Hold” and a consensus price target of $45.00.

Institutional Trading of Cloudastructure

Several institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in shares of Cloudastructure during the fourth quarter valued at approximately $39,000. State Street Corp lifted its stake in shares of Cloudastructure by 26.0% during the 4th quarter. State Street Corp now owns 80,000 shares of the company’s stock worth $64,000 after acquiring an additional 16,500 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cloudastructure by 27.3% during the 4th quarter. Geode Capital Management LLC now owns 196,921 shares of the company’s stock worth $159,000 after acquiring an additional 42,204 shares during the last quarter. Citadel Advisors LLC purchased a new position in Cloudastructure during the 3rd quarter valued at $64,000. Finally, Two Sigma Investments LP grew its position in Cloudastructure by 104.6% in the 3rd quarter. Two Sigma Investments LP now owns 93,722 shares of the company’s stock valued at $118,000 after acquiring an additional 47,916 shares during the last quarter.

Cloudastructure Company Profile

Cloudastructure, Inc (NASDAQ: CSAI) is a technology company specializing in cloud-based video security and surveillance solutions. The company’s core offering is a subscription-based Video-as-a-Service (VaaS) platform that enables customers to deploy, manage and monitor high-definition cameras and environmental sensors through a unified cloud interface. By leveraging scalable cloud infrastructure, Cloudastructure eliminates the need for on-site video recording hardware and simplifies system maintenance and updates.

In addition to managed hardware, Cloudastructure provides advanced analytics capabilities powered by artificial intelligence and machine learning.