Short Interest in Calix, Inc. (NYSE:CALX) Increases By 14.0%

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Panagora Asset Management Inc. lifted its holdings in shares of Calix by 9.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 111,113 shares of the communications equipment provider’s stock valued at $3,937,000 after buying an additional 9,775 shares during the period. Baillie Gifford & Co. grew its holdings in shares of Calix by 57.8% in the second quarter. Baillie Gifford & Co. now owns 14,972 shares of the communications equipment provider’s stock worth $530,000 after purchasing an additional 5,487 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Calix by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the communications equipment provider’s stock worth $1,038,000 after buying an additional 300 shares in the last quarter. Nisa Investment Advisors LLC boosted its position 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 acquiring an additional 303 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its stake in Calix by 4.4% in the second quarter. Portside Wealth Group LLC now owns 7,214 shares of the communications equipment provider’s stock valued at $256,000 after acquiring an additional 301 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Calix Stock Performance

Calix stock traded up $0.02 during midday trading on Wednesday, hitting $40.92. 340,330 shares of the company’s stock were exchanged, compared to its average volume of 851,152. The company has a market cap of $2.69 billion, a P/E ratio of 131.94 and a beta of 1.76. The stock has a 50-day moving average price of $35.24 and a two-hundred day moving average price of $34.30. Calix has a 52-week low of $26.76 and a 52-week high of $48.53.

Calix (NYSE:CALX) last posted its quarterly earnings data on Monday, July 22nd. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $198.14 million during the quarter, compared to analysts’ expectations of $200.77 million. During the same period in the prior year, the business earned $0.15 EPS. The company’s revenue for the quarter was down 24.1% compared to the same quarter last year. As a group, sell-side analysts expect that Calix will post -0.36 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Calix from $28.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Craig Hallum upped their target price on Calix from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Calix in a report on Tuesday, July 23rd. Jefferies Financial Group lowered Calix from a “buy” rating to a “hold” rating and dropped their price target for the company from $48.00 to $30.00 in a research note on Thursday, April 25th. Finally, Roth Mkm raised their price objective on shares of Calix from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $42.50.

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.