Calix (NYSE:CALX) Stock Price Up 3.8% – Here’s What Happened

Calix, Inc. (NYSE:CALX) rose 3.8% on Tuesday . The stock traded as high as $34.57 and last traded at $34.67. Approximately 289,233 shares were traded during trading, a decline of 54% from the average daily volume of 633,470 shares. The stock had previously closed at $33.39.

Analyst Upgrades and Downgrades

CALX has been the topic of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Calix in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their price objective on Calix from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

Calix Trading Up 0.7 %

The business has a 50-day moving average price of $37.47 and a 200-day moving average price of $36.28. The firm has a market cap of $2.34 billion, a P/E ratio of -78.18 and a beta of 1.78.

Calix (NYSE:CALX) last posted its quarterly earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.31). Calix had a negative return on equity of 3.43% and a negative net margin of 3.58%. On average, equities analysts anticipate that Calix, Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Carl Russo sold 25,000 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $38.15, for a total transaction of $953,750.00. Following the completion of the sale, the director now directly owns 2,164,188 shares in the company, valued at $82,563,772.20. This represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 16.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Calix

A number of hedge funds have recently made changes to their positions in CALX. Smartleaf Asset Management LLC lifted its stake in shares of Calix by 367.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 640 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of Calix by 998.1% during the 3rd quarter. Avior Wealth Management LLC now owns 1,186 shares of the communications equipment provider’s stock worth $46,000 after purchasing an additional 1,078 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Calix by 29.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,558 shares of the communications equipment provider’s stock worth $54,000 after purchasing an additional 358 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Calix during the 3rd quarter worth $76,000. Finally, Quantbot Technologies LP purchased a new stake in Calix in the fourth quarter valued at about $84,000. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

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.