Cloudastructure (NASDAQ:CSAI) Stock Price Down 2.1% – Time to Sell?

by · The Cerbat Gem

Cloudastructure Inc. (NASDAQ:CSAI – Get Free Report) shares traded down 2.1% during mid-day trading on Wednesday . The stock traded as low as $1.83 and last traded at $1.89. 4,522,640 shares changed hands during trading, an increase of 105% from the average session volume of 2,208,818 shares. The stock had previously closed at $1.93.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Cloudastructure in a report on Tuesday, October 14th. Wall Street Zen raised shares of Cloudastructure from a “sell” rating to a “hold” rating in a report on Sunday, September 7th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cloudastructure currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00.

View Our Latest Stock Report on Cloudastructure

Cloudastructure Price Performance

The firm has a market cap of $34.79 million and a price-to-earnings ratio of -13.50. The firm’s fifty day moving average is $1.48 and its two-hundred day moving average is $2.16.

Cloudastructure (NASDAQ:CSAI – Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.14) earnings per share for the quarter. The company had revenue of $1.09 million for the quarter.

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

Institutional Investors Weigh In On Cloudastructure

An institutional investor recently bought a new position in Cloudastructure stock. XTX Topco Ltd purchased a new stake in Cloudastructure Inc. (NASDAQ:CSAI – Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 24,868 shares of the company’s stock, valued at approximately $55,000. XTX Topco Ltd owned about 0.14% of Cloudastructure at the end of the most recent quarter.

Cloudastructure Company Profile

(Get Free Report)

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”).

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