Calix (NYSE:CALX) Sees Strong Trading Volume – Here’s What Happened

Calix, Inc. (NYSE:CALX) saw strong trading volume on Tuesday . 761,862 shares were traded during trading, an increase of 2% from the previous session’s volume of 747,935 shares.The stock last traded at $30.08 and had previously closed at $29.03.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Roth Mkm lifted their target price on Calix from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of Calix in a research report on Tuesday, October 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $45.00 price objective on shares of Calix in a report on Thursday, October 3rd. Finally, Craig Hallum increased their price target on shares of Calix from $41.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Calix currently has an average rating of “Moderate Buy” and an average price target of $42.50.

Calix Trading Up 8.8 %

The company has a market capitalization of $2.10 billion, a PE ratio of -131.63 and a beta of 1.75. The stock has a fifty day simple moving average of $36.53 and a 200-day simple moving average of $35.68.

Calix (NYSE:CALX) last released its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.04. The firm had revenue of $200.95 million for the quarter, compared to the consensus estimate of $201.06 million. Calix had a positive return on equity of 1.33% and a negative net margin of 1.79%. The firm’s quarterly revenue was down 23.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.25 EPS. As a group, equities research analysts predict that Calix, Inc. will post -0.34 EPS for the current year.

Institutional Trading of Calix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System raised its holdings in Calix by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the communications equipment provider’s stock worth $1,038,000 after purchasing an additional 300 shares in the last quarter. Portside Wealth Group LLC boosted its stake in shares of Calix by 4.4% during 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 during the last quarter. Nisa Investment Advisors LLC raised its holdings 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 acquiring an additional 303 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in Calix by 29.8% in the third quarter. Hexagon Capital Partners LLC now owns 1,385 shares of the communications equipment provider’s stock valued at $54,000 after purchasing an additional 318 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Calix by 187.9% in the third quarter. GAMMA Investing LLC now owns 668 shares of the communications equipment provider’s stock worth $26,000 after acquiring an additional 436 shares during the last quarter. 98.14% of the stock is owned by hedge funds and other institutional investors.

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.