Casa Systems Inc (NASDAQ:CASA) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 1,282,200 shares, a growth of 10.5% from the June 30th total of 1,160,000 shares. Currently, 4.7% of the company’s shares are short sold. Based on an average daily volume of 309,200 shares, the days-to-cover ratio is currently 4.1 days.

Several institutional investors have recently made changes to their positions in CASA. Cutler Group LP raised its holdings in shares of Casa Systems by 3,864.0% during the second quarter. Cutler Group LP now owns 3,964 shares of the company’s stock valued at $25,000 after acquiring an additional 3,864 shares in the last quarter. Quantamental Technologies LLC raised its holdings in shares of Casa Systems by 1,044.9% during the second quarter. Quantamental Technologies LLC now owns 5,896 shares of the company’s stock valued at $38,000 after acquiring an additional 5,381 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Casa Systems by 590,300.0% during the second quarter. Bank of Montreal Can now owns 5,904 shares of the company’s stock valued at $38,000 after acquiring an additional 5,903 shares in the last quarter. Royce & Associates LP raised its holdings in shares of Casa Systems by 144.8% during the first quarter. Royce & Associates LP now owns 4,871 shares of the company’s stock valued at $40,000 after acquiring an additional 2,881 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Casa Systems by 609.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,213 shares of the company’s stock worth $52,000 after purchasing an additional 5,337 shares during the period. Institutional investors own 67.07% of the company’s stock.

CASA has been the subject of several recent research reports. ValuEngine upgraded Casa Systems from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Morgan Stanley lowered their price objective on Casa Systems from $11.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Raymond James downgraded Casa Systems from a “market perform” rating to an “underperform” rating in a research report on Tuesday, July 30th. Zacks Investment Research upgraded Casa Systems from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a research report on Tuesday, July 16th. Finally, Barclays assumed coverage on Casa Systems in a report on Wednesday, August 7th. They set an “equal weight” rating and a $8.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $13.28.

Shares of Casa Systems stock traded down $0.31 during midday trading on Wednesday, reaching $6.51. 9,055 shares of the company’s stock traded hands, compared to its average volume of 406,507. The company has a debt-to-equity ratio of 4.20, a quick ratio of 5.02 and a current ratio of 6.25. The company has a market capitalization of $571.72 million, a P/E ratio of 8.24 and a beta of 0.76. The company’s 50 day moving average is $6.69. Casa Systems has a 12 month low of $5.46 and a 12 month high of $16.75.

Casa Systems (NASDAQ:CASA) last announced its earnings results on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.15. The company had revenue of $52.10 million during the quarter, compared to the consensus estimate of $49.59 million. Casa Systems had a return on equity of 32.65% and a net margin of 8.71%. The firm’s revenue for the quarter was down 24.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share. Research analysts anticipate that Casa Systems will post 0.12 EPS for the current year.

About Casa Systems

Casa Systems, Inc provides software-centric broadband products in North America, Latin America, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers solutions that allow cable service providers to deliver voice, video, and data services over a single platform at multi-gigabit speeds.

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