Calix, Inc (NYSE:CALX) shares reached a new 52-week low on Friday . The company traded as low as $4.65 and last traded at $4.68, with a volume of 260,188 shares. The stock had previously closed at $4.85.
CALX has been the topic of a number of research reports. Northland Securities set a $7.00 price target on Calix and gave the stock a “hold” rating in a research note on Monday, August 7th. ValuEngine raised Calix from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded Calix from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, BidaskClub raised Calix from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Calix presently has a consensus rating of “Hold” and an average price target of $6.50.
The firm has a 50-day moving average price of $5.63 and a 200-day moving average price of $6.54. The stock’s market cap is $233.93 million.
Calix (NYSE:CALX) last released its earnings results on Tuesday, August 8th. The communications equipment provider reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.15. Calix had a negative net margin of 12.72% and a negative return on equity of 30.33%. The business had revenue of $126.12 million for the quarter, compared to analysts’ expectations of $123.70 million. During the same quarter in the previous year, the business posted ($0.04) earnings per share. Calix’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, analysts anticipate that Calix, Inc will post ($1.21) earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. PEAK6 Investments L.P. purchased a new position in shares of Calix during the first quarter valued at approximately $120,000. Trexquant Investment LP purchased a new position in shares of Calix during the first quarter valued at approximately $134,000. American International Group Inc. lifted its holdings in shares of Calix by 7.1% during the first quarter. American International Group Inc. now owns 25,413 shares of the communications equipment provider’s stock valued at $184,000 after purchasing an additional 1,676 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of Calix by 15.5% during the second quarter. Voya Investment Management LLC now owns 27,603 shares of the communications equipment provider’s stock valued at $189,000 after purchasing an additional 3,696 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Calix by 2.7% during the second quarter. Wells Fargo & Company MN now owns 28,054 shares of the communications equipment provider’s stock valued at $192,000 after purchasing an additional 729 shares during the last quarter. Hedge funds and other institutional investors own 64.48% of the company’s stock.
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Calix, Inc provides broadband communications access systems and software for fiber- and copper-based network architectures that enable communications service providers (CSPs), to transform their networks and connect to their residential and business subscribers. The Company enables CSPs to provide various services, from basic voice and data to advanced broadband services, over legacy and next-generation access networks.
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