Cloudastructure (NASDAQ:CSAI) Stock Price Down 1.8% – Should You Sell?

Cloudastructure Inc. (NASDAQ:CSAI) dropped 1.8% on Wednesday . The stock traded as low as $1.0701 and last traded at $1.09. Approximately 199,360 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 559,040 shares. The stock had previously closed at $1.11.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cloudastructure in a report on Tuesday, October 14th. Wall Street Zen lowered Cloudastructure from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Cloudastructure presently has an average rating of “Moderate Buy” and an average target price of $6.00.

Cloudastructure Trading Down 1.8%

The firm has a market capitalization of $21.28 million and a price-to-earnings ratio of -4.04. The company’s 50 day moving average is $1.34 and its 200-day moving average is $1.68.

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

Cloudastructure declared that its board has authorized a share repurchase program on Thursday, October 16th that allows the company to buyback $5.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 19.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Cloudastructure

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Flaharty Asset Management LLC acquired a new position in shares of Cloudastructure in the first quarter valued at $53,000. XTX Topco Ltd acquired a new stake in shares of Cloudastructure during the 2nd quarter worth about $55,000. Citadel Advisors LLC bought a new stake in shares of Cloudastructure during the 3rd quarter worth about $64,000. Finally, Two Sigma Investments LP boosted its holdings in shares of Cloudastructure by 104.6% during the 3rd quarter. Two Sigma Investments LP now owns 93,722 shares of the company’s stock worth $118,000 after buying an additional 47,916 shares during the period.

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”).