Short Interest in Calix, Inc. (NYSE:CALX) Declines By 8.1%

Calix, Inc. (NYSE:CALX) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 2,490,000 shares, a decrease of 8.1% from the September 15th total of 2,710,000 shares. Approximately 4.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 559,500 shares, the days-to-cover ratio is presently 4.5 days.

Calix Stock Performance

Calix stock opened at $39.89 on Friday. The company’s 50 day simple moving average is $37.36 and its 200-day simple moving average is $34.81. Calix has a 1 year low of $26.76 and a 1 year high of $45.21. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 128.68 and a beta of 1.74.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CALX shares. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of Calix in a report on Tuesday, September 10th. StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Calix from $28.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Craig Hallum lifted their price target on shares of Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Roth Mkm increased their price objective on Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Insider Transactions at Calix

In related news, Director Carl Russo sold 25,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $37.56, for a total transaction of $939,000.00. Following the transaction, the director now directly owns 3,723,381 shares in the company, valued at approximately $139,850,190.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 16.69% of the company’s stock.

Hedge Funds Weigh In On Calix

Several hedge funds have recently bought and sold shares of CALX. GAMMA Investing LLC grew its position in Calix by 187.9% in the 3rd quarter. GAMMA Investing LLC now owns 668 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 436 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Calix during the 1st quarter worth approximately $48,000. Hexagon Capital Partners LLC increased its stake in Calix by 29.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,385 shares of the communications equipment provider’s stock worth $54,000 after buying an additional 318 shares during the period. Ariadne Wealth Management LP acquired a new stake in Calix during the 2nd quarter worth approximately $60,000. Finally, Nisa Investment Advisors LLC boosted its position in Calix by 13.7% in 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 during the period. Institutional investors and hedge funds own 98.14% of the company’s stock.

About Calix

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.