Calix, Inc. (NYSE:CALX) Sees Large Growth in Short Interest

Calix, Inc. (NYSE:CALX) saw a large growth in short interest in July. As of July 15th, there was short interest totalling 3,100,000 shares, a growth of 14.0% from the June 30th total of 2,720,000 shares. Approximately 5.3% of the shares of the company are short sold. Based on an average daily trading volume, of 699,100 shares, the days-to-cover ratio is currently 4.4 days.

Institutional Investors Weigh In On Calix

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new position in shares of Calix in the first quarter worth $48,000. TFO Wealth Partners LLC boosted its stake in Calix by 13,787.5% during the fourth quarter. TFO Wealth Partners LLC now owns 1,111 shares of the communications equipment provider’s stock valued at $49,000 after buying an additional 1,103 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Calix by 13.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,520 shares of the communications equipment provider’s stock valued at $89,000 after buying an additional 303 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Calix by 18.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the communications equipment provider’s stock valued at $98,000 after buying an additional 348 shares in the last quarter. Finally, Assetmark Inc. increased its stake in Calix by 41.5% in the 4th quarter. Assetmark Inc. now owns 2,233 shares of the communications equipment provider’s stock worth $98,000 after acquiring an additional 655 shares during the last quarter. 98.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CALX has been the subject of several research reports. StockNews.com cut shares of Calix from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Jefferies Financial Group lowered shares of Calix from a “buy” rating to a “hold” rating and decreased their target price for the company from $48.00 to $30.00 in a research note on Thursday, April 25th. Rosenblatt Securities raised their price target on Calix from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Craig Hallum upped their price objective on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $42.50.

Calix Price Performance

Shares of CALX stock traded up $3.10 during trading hours on Monday, reaching $39.78. 1,085,090 shares of the company traded hands, compared to its average volume of 852,399. The firm has a 50-day moving average price of $34.88 and a 200 day moving average price of $34.33. The company has a market cap of $2.62 billion, a P/E ratio of 126.06 and a beta of 1.76. Calix has a 12-month low of $26.76 and a 12-month high of $48.53.

Calix (NYSE:CALX) last posted its quarterly earnings results on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $198.14 million during the quarter, compared to analyst estimates of $200.77 million. Calix had a net margin of 0.52% and a return on equity of 4.17%. The company’s revenue was down 24.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 earnings per share. Sell-side analysts predict that Calix will post -0.36 EPS for the current year.

Calix Company Profile

Calix, Inc, together with its subsidiaries, engages in the provision of cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services.