Cloudastructure Inc. (NASDAQ:CSAI) Sees Significant Decline in Short Interest

Cloudastructure Inc. (NASDAQ:CSAI) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 605,063 shares, a decline of 28.4% from the December 15th total of 844,979 shares. Currently, 3.9% of the company’s shares are sold short. Based on an average daily trading volume, of 496,918 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily trading volume, of 496,918 shares, the days-to-cover ratio is presently 1.2 days. Currently, 3.9% of the company’s shares are sold short.

Cloudastructure Stock Down 3.1%

NASDAQ:CSAI traded down $0.03 during midday trading on Monday, hitting $0.90. The stock had a trading volume of 195,812 shares, compared to its average volume of 359,988. The stock has a 50-day moving average of $1.06 and a 200 day moving average of $1.43. The company has a market capitalization of $17.50 million and a price-to-earnings ratio of -3.32. Cloudastructure has a one year low of $0.78 and a one year high of $52.43.

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

Cloudastructure declared that its Board of Directors has initiated a stock buyback 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Cloudastructure

A number of hedge funds and other institutional investors have recently modified their holdings of CSAI. XTX Topco Ltd bought a new position in Cloudastructure in the second quarter worth approximately $55,000. Citadel Advisors LLC purchased a new position in shares of Cloudastructure in the 3rd quarter valued at $64,000. Finally, Two Sigma Investments LP raised its position in shares of Cloudastructure by 104.6% in the 3rd quarter. Two Sigma Investments LP now owns 93,722 shares of the company’s stock worth $118,000 after acquiring an additional 47,916 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently commented on CSAI shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cloudastructure in a research note on Friday, January 9th. Wall Street Zen cut Cloudastructure from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.00.

Cloudastructure Company Profile

Cloudastructure, Inc (NASDAQ: CSAI) is a technology company specializing in cloud-based video security and surveillance solutions. The company’s core offering is a subscription-based Video-as-a-Service (VaaS) platform that enables customers to deploy, manage and monitor high-definition cameras and environmental sensors through a unified cloud interface. By leveraging scalable cloud infrastructure, Cloudastructure eliminates the need for on-site video recording hardware and simplifies system maintenance and updates.

In addition to managed hardware, Cloudastructure provides advanced analytics capabilities powered by artificial intelligence and machine learning.