Casa Systems Inc (NASDAQ:CASA) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 1,200,000 shares, a decline of 11.1% from the August 30th total of 1,350,000 shares. Based on an average daily trading volume, of 299,200 shares, the short-interest ratio is currently 4.0 days. Currently, 4.2% of the company’s stock are sold short.

A number of institutional investors have recently modified their holdings of CASA. Cutler Group LP lifted its holdings in Casa Systems by 3,864.0% during the second quarter. Cutler Group LP now owns 3,964 shares of the company’s stock worth $25,000 after acquiring an additional 3,864 shares during the period. Quantamental Technologies LLC raised its stake in shares of Casa Systems by 1,044.9% in the second quarter. Quantamental Technologies LLC now owns 5,896 shares of the company’s stock valued at $38,000 after buying an additional 5,381 shares during the period. Bank of Montreal Can raised its stake in shares of Casa Systems by 590,300.0% in the second quarter. Bank of Montreal Can now owns 5,904 shares of the company’s stock valued at $38,000 after buying an additional 5,903 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Casa Systems in the second quarter valued at $63,000. Finally, Menta Capital LLC bought a new stake in shares of Casa Systems in the second quarter valued at $66,000. Institutional investors and hedge funds own 68.18% of the company’s stock.

Casa Systems stock traded up $0.04 during mid-day trading on Wednesday, reaching $6.71. 2,487 shares of the company’s stock were exchanged, compared to its average volume of 223,482. The business’s fifty day simple moving average is $6.70 and its 200 day simple moving average is $6.98. The firm has a market capitalization of $559.15 million, a PE ratio of 8.38 and a beta of 0.91. Casa Systems has a one year low of $5.35 and a one year high of $16.42. The company has a quick ratio of 5.02, a current ratio of 6.25 and a debt-to-equity ratio of 4.20.

Casa Systems (NASDAQ:CASA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.15. The business had revenue of $52.10 million for the quarter, compared to analyst estimates of $49.59 million. Casa Systems had a return on equity of 32.65% and a net margin of 8.71%. Casa Systems’s quarterly revenue was down 24.2% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. On average, sell-side analysts forecast that Casa Systems will post 0.12 earnings per share for the current year.

Several brokerages recently issued reports on CASA. Barclays began coverage on Casa Systems in a research report on Wednesday, August 7th. They set an “equal weight” rating and a $8.00 target price on the stock. ValuEngine upgraded Casa Systems from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. Morgan Stanley dropped their price target on Casa Systems from $11.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Raymond James lowered Casa Systems from a “market perform” rating to an “underperform” rating in a report on Tuesday, July 30th. Finally, Zacks Investment Research upgraded Casa Systems from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $10.58.

About Casa Systems

Casa Systems, Inc provides software-centric broadband products in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers solutions that allow cable service providers to deliver voice, video, and data services over a single platform at multi-gigabit speeds.

Further Reading: Why are percentage gainers important?

Receive News & Ratings for Casa Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Casa Systems and related companies with MarketBeat.com's FREE daily email newsletter.