Zacks Research Upgrades Cloudastructure (NASDAQ:CSAI) to “Hold”

Cloudastructure (NASDAQ:CSAI) was upgraded by analysts at Zacks Research to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

CSAI has been the subject of several other reports. Wall Street Zen downgraded shares of Cloudastructure from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cloudastructure in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cloudastructure presently has an average rating of “Hold” and a consensus target price of $6.00.

Cloudastructure Stock Down 0.6%

CSAI stock opened at $0.86 on Thursday. Cloudastructure has a 52 week low of $0.78 and a 52 week high of $52.43. The business has a 50-day simple moving average of $1.00 and a 200 day simple moving average of $1.40. The company has a market cap of $16.87 million and a PE ratio of -3.20.

Cloudastructure (NASDAQ:CSAI) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.13) earnings per share (EPS) for the quarter. The firm had revenue of $1.45 million for the quarter. Cloudastructure had a negative return on equity of 147.58% and a negative net margin of 210.73%.

Cloudastructure announced that its board has authorized a share repurchase program on Thursday, October 16th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 19.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Cloudastructure

Several hedge funds have recently modified their holdings of the company. XTX Topco Ltd acquired a new position in Cloudastructure in the 2nd quarter worth about $55,000. Citadel Advisors LLC bought a new stake in shares of Cloudastructure during the third quarter worth about $64,000. Finally, Two Sigma Investments LP increased its stake in shares of Cloudastructure by 104.6% in the third quarter. Two Sigma Investments LP now owns 93,722 shares of the company’s stock valued at $118,000 after buying an additional 47,916 shares during the period.

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.