Calix Inc (NYSE:CALX) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 1,700,000 shares, a decline of 8.1% from the August 15th total of 1,850,000 shares. Based on an average daily volume of 305,500 shares, the days-to-cover ratio is currently 5.6 days. Currently, 3.6% of the shares of the stock are short sold.
In other news, Director Kevin A. Denuccio bought 10,100 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average price of $5.79 per share, with a total value of $58,479.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Cory Sindelar acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were bought at an average cost of $6.22 per share, with a total value of $31,100.00. Following the purchase, the chief financial officer now owns 61,000 shares in the company, valued at $379,420. The disclosure for this purchase can be found here. Insiders purchased a total of 94,478 shares of company stock valued at $567,898 in the last three months. 18.57% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Voce Capital Management LLC increased its stake in shares of Calix by 8.8% during the 2nd quarter. Voce Capital Management LLC now owns 1,363,782 shares of the communications equipment provider’s stock valued at $8,946,000 after acquiring an additional 110,738 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in Calix by 19.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,419,090 shares of the communications equipment provider’s stock worth $9,309,000 after purchasing an additional 234,719 shares in the last quarter. Marshall Wace LLP acquired a new stake in Calix during the 2nd quarter worth approximately $1,105,000. AQR Capital Management LLC increased its position in Calix by 18.1% during the 2nd quarter. AQR Capital Management LLC now owns 636,005 shares of the communications equipment provider’s stock worth $4,172,000 after purchasing an additional 97,317 shares in the last quarter. Finally, Divisar Capital Management LLC increased its position in Calix by 10.4% during the 2nd quarter. Divisar Capital Management LLC now owns 3,405,036 shares of the communications equipment provider’s stock worth $22,337,000 after purchasing an additional 320,000 shares in the last quarter. 66.26% of the stock is owned by institutional investors.
A number of research analysts have recently commented on CALX shares. Zacks Investment Research downgraded shares of Calix from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Northland Securities reaffirmed a “buy” rating and set a $8.50 price objective on shares of Calix in a research note on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $7.75.
Shares of NYSE CALX traded down $0.04 on Monday, reaching $6.41. 14,430 shares of the company traded hands, compared to its average volume of 202,567. Calix has a fifty-two week low of $5.60 and a fifty-two week high of $11.30. The company has a 50 day moving average of $6.05 and a 200 day moving average of $6.66. The company has a current ratio of 1.15, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $351.49 million, a PE ratio of -19.52 and a beta of 0.67.
Calix (NYSE:CALX) last posted its quarterly earnings data on Tuesday, July 23rd. The communications equipment provider reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.03. Calix had a negative net margin of 4.66% and a negative return on equity of 8.70%. The company had revenue of $100.30 million during the quarter, compared to the consensus estimate of $99.95 million. As a group, research analysts expect that Calix will post -0.13 earnings per share for the current year.
Calix, Inc, together with its subsidiaries, provides cloud and software platforms, systems and services required to deliver the unified access network. The company's cloud and software platforms, systems, and services enable communication service providers (CSP) to provide a range of services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.
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