Cloudastructure (NASDAQ:CSAI) Trading Down 24.7% – Here’s Why

Cloudastructure Inc. (NASDAQ:CSAI)’s stock price traded down 24.7% during mid-day trading on Monday . The stock traded as low as $4.99 and last traded at $5.36. Approximately 129,882 shares changed hands during trading, an increase of 42% from the average daily volume of 91,275 shares. The stock had previously closed at $7.12.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CSAI. Weiss Ratings restated a “sell (e+)” rating on shares of Cloudastructure in a research note on Monday, July 6th. Maxim Group dropped their price target on shares of Cloudastructure from $120.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.00.

Cloudastructure Stock Down 24.7%

The stock has a market capitalization of $4.45 million, a PE ratio of -0.33 and a beta of 1.14. The business’s 50-day moving average is $9.40 and its two-hundred day moving average is $15.46.

Institutional Trading of Cloudastructure

A number of large investors have recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Cloudastructure by 26.0% in the fourth quarter. State Street Corp now owns 80,000 shares of the company’s stock valued at $64,000 after acquiring an additional 16,500 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cloudastructure by 27.3% in the 4th quarter. Geode Capital Management LLC now owns 196,921 shares of the company’s stock valued at $159,000 after acquiring an additional 42,204 shares during the period. Citadel Advisors LLC purchased a new stake in Cloudastructure in the 3rd quarter valued at $64,000. Two Sigma Investments LP raised 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 purchasing an additional 47,916 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Cloudastructure during the 2nd quarter worth $55,000.

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.