Casa Systems (CASA) Stock Price Down 7.2%

Casa Systems Inc (NASDAQ:CASA)’s share price traded down 7.2% during mid-day trading on Friday . The stock traded as low as $28.51 and last traded at $29.70. 1,060,271 shares changed hands during trading, an increase of 79% from the average session volume of 590,815 shares. The stock had previously closed at $31.99.

Several equities analysts have recently issued reports on the stock. Barclays restated an “equal weight” rating and set a $25.00 price objective (up previously from $21.00) on shares of Casa Systems in a report on Wednesday, March 7th. Stifel Nicolaus upped their price objective on shares of Casa Systems from $23.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, March 7th. Zacks Investment Research upgraded shares of Casa Systems from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Tuesday, March 13th. Northland Securities assumed coverage on shares of Casa Systems in a report on Tuesday, January 9th. They set an “outperform” rating and a $25.00 price objective on the stock. Finally, Morgan Stanley restated an “equal weight” rating and set a $23.00 price objective (up previously from $21.00) on shares of Casa Systems in a report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Casa Systems has a consensus rating of “Buy” and an average price target of $25.71.

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The company has a quick ratio of 3.87, a current ratio of 4.23 and a debt-to-equity ratio of 5.89.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Gilder Gagnon Howe & Co. LLC purchased a new stake in Casa Systems in the fourth quarter valued at approximately $232,000. Wolverine Asset Management LLC purchased a new stake in Casa Systems in the fourth quarter valued at approximately $266,000. Needham Investment Management LLC purchased a new stake in Casa Systems in the fourth quarter valued at approximately $375,000. Quad Capital Management Advisors LLC purchased a new stake in Casa Systems in the fourth quarter valued at approximately $408,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Casa Systems in the fourth quarter valued at approximately $583,000. Hedge funds and other institutional investors own 54.32% of the company’s stock.

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Casa Systems Company Profile

Casa Systems, Inc is provides a software-centric infrastructure solutions. In addition, the Company offers solutions for next-generation distributed and virtualized architectures in cable operator, fixed telecom and wireless networks. Its products include axyom software platform, delivery platforms, multi-service applications, capacity expansion products.

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