Cloudastructure (NASDAQ:CSAI) Posts Quarterly Earnings Results

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

Cloudastructure Stock Performance

Shares of CSAI stock traded down $0.04 during mid-day trading on Friday, reaching $1.33. The company’s stock had a trading volume of 548,162 shares, compared to its average volume of 962,470. The firm’s 50-day moving average is $1.47 and its two-hundred day moving average is $2.05. The company has a market cap of $24.49 million and a P/E ratio of -9.50. Cloudastructure has a 1-year low of $1.16 and a 1-year high of $52.43.

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

Wall Street Analyst Weigh In

CSAI has been the topic of several recent analyst reports. Wall Street Zen raised Cloudastructure from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Cloudastructure in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Flaharty Asset Management LLC acquired a new position in shares of Cloudastructure in the 1st quarter worth approximately $53,000. XTX Topco Ltd bought a new stake in Cloudastructure in the second quarter valued at $55,000. Finally, Two Sigma Investments LP raised its stake in Cloudastructure by 104.6% during the third 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.

About Cloudastructure

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”).