Cloudastructure (NASDAQ:CSAI) Issues Earnings Results

Cloudastructure (NASDAQ:CSAI) announced its earnings results on Thursday. The company reported ($0.13) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $1.45 million for the quarter.

Cloudastructure Trading Down 7.9%

NASDAQ:CSAI traded down $0.12 during mid-day trading on Thursday, hitting $1.34. The company’s stock had a trading volume of 1,367,584 shares, compared to its average volume of 963,074. The company has a market capitalization of $24.58 million and a price-to-earnings ratio of -9.54. Cloudastructure has a fifty-two week low of $1.16 and a fifty-two week high of $52.43. The stock has a fifty day moving average of $1.47 and a 200-day moving average of $2.05.

Cloudastructure announced that its Board of Directors has authorized a stock repurchase plan 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 plans are generally an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Cloudastructure

A hedge fund recently bought a new stake in Cloudastructure stock. Flaharty Asset Management LLC purchased a new stake in shares of Cloudastructure Inc. (NASDAQ:CSAI) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,000 shares of the company’s stock, valued at approximately $53,000. Flaharty Asset Management LLC owned about 0.08% of Cloudastructure as of its most recent filing with the Securities and Exchange Commission (SEC).

Wall Street Analyst Weigh In

Several analysts recently commented on CSAI shares. Weiss Ratings restated a “sell (e+)” rating on shares of Cloudastructure in a report on Tuesday, October 14th. Wall Street Zen upgraded Cloudastructure from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

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”).