Cloudastructure (NASDAQ:CSAI) Issues Earnings Results

Cloudastructure (NASDAQ:CSAI) issued its quarterly earnings data on Thursday. The company reported ($0.13) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $1.45 million for the quarter.

Cloudastructure Trading Down 2.9%

Shares of Cloudastructure stock traded down $0.04 during trading on Friday, hitting $1.33. The stock had a trading volume of 548,166 shares, compared to its average volume of 1,982,844. The business’s 50-day moving average is $1.47 and its 200 day moving average is $2.02. The firm has a market cap of $24.49 million and a price-to-earnings ratio of -9.50. Cloudastructure has a 12 month low of $1.16 and a 12 month high of $52.43.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CSAI. Wall Street Zen cut shares of Cloudastructure from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Cloudastructure in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Institutional Investors Weigh In On Cloudastructure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP lifted its position in Cloudastructure by 104.6% during 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 period. XTX Topco Ltd purchased a new stake in shares of Cloudastructure during the 2nd quarter valued at about $55,000. Finally, Flaharty Asset Management LLC bought a new stake in shares of Cloudastructure during the 1st quarter valued at $53,000.

Cloudastructure announced that its Board of Directors has initiated a share repurchase plan on Thursday, October 16th that allows the company to buyback $5.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 19.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Cloudastructure Company Profile

Cloudastructure, Inc (“Cloudastructure”) was formed under the laws of the State of Delaware on March 28, 2003. We provide an award-winning cloud-based artificial intelligence (“AI”) video surveillance and Remote Guarding service built on AI and machine learning platforms. We operated as a small Silicon Valley startup until early 2021 when we raised over $35 million in funding under Regulation A of the Securities Act of 1933, as amended (the “Securities Act”).