Casa Systems Inc (NASDAQ: CASA)
Casa Systems Inc. shares saw the needle move up 2.33 or 11.69% in the latest trading session to reach $24.2925. About 136.3% shares traded or 788,697 up from the average.
The $1.97 billion company has underperformed by 16.7% at the S&P500 since March 2017. Roughly 850,000 million of the company’s shares traded at hands in Monday’s session.
CASAOutlook & Earnings
CASA’s market cap stood at $1.82 billion while its relative stock volume was 2.29 at midday. Earnings Per Share (EPS) growth was noted at -228.6% for the fiscal year 2018, and an anticipated -6.4% growth for 2019. The stock has risen significantly in the last week, gathering an 11.75% return in last week’s trading.
The company is expected to release its 4Q earnings report tomorrow (March 9, 2018) after market close. Analysts at Zack Investment Research predict it will announce a $0.32 EPS in its report. The cable telecom technology company was listed on the NASDAQ last December, after proposing a $134 million initial public offer of its common stock.
Recently, large investors have reduced or added their holdings in the company. During the last 4Q, Wolverine Asset Management bought a new position in the company valued at $266,000. Gilder Gagnon Howe Company acquired a new stake in Casa Systems in the same quarter worth $232,000.
Others big investors that have purchased a stake in Casa Systems in recent months include Needham Investment Management and Quad Capital Management Advisors who got shares $375,000 and $408,000 respectively. 55.25% of the Casa’s stock is owned by institutional investors.
Casa Systems Inc Company Profile
Casa Systems, Inc. is an American company that provides software-centric items in Latin America, North America, Asia-Pacific, the Middle East, and Europe. The firm converges cable access solutions that allow providers of cable service to deliver data, video, and voice services at multi-gigabit speeds over a single platform. The company also provides next-generation virtualized and distributed able operators, wireless networks, and fixed telecom.
Incorporated in 2003, Casa Systems’ products include delivery platforms, capacity expansion products, Axyom software platform, and multi-service applications.
Axyom is a 5G software platform designed to deliver high flexibility, performance, scalability, and programmability. It is central to the firm’s multi-service, accessing network functions, broadband delivery architecture, and integrating multiple cores.
The Company provides a range of solutions such as the addition of crucial bandwidth capacity that is ideal to include on both new and existing services, reduced network complexity, remote networks upgrade capability, network densification ability, and common platform ability for address the needs of wireless and fixed networks.
Its head offices are located in Andover, Massachusetts. It was founded by software expert Jerry Guo, who also serves as its President and chief executive officer. Casa Systems, Inc. was added to the NASDAQ index in December 2017, and its employees’ numbers in the US currently stand at about 652.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.