Calix (NYSE:CALX) Sets New 52-Week Low at $28.95

Calix, Inc. (NYSE:CALX) hit a new 52-week low during trading on Thursday . The company traded as low as $28.95 and last traded at $29.00, with a volume of 15924 shares changing hands. The stock had previously closed at $29.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CALX shares. StockNews.com upgraded Calix from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Calix in a research report on Wednesday. Finally, Rosenblatt Securities lowered their price objective on Calix from $57.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.60.

Calix Trading Up 0.6 %

The company has a 50-day simple moving average of $33.58 and a 200 day simple moving average of $37.98. The firm has a market cap of $1.92 billion, a PE ratio of 64.85 and a beta of 1.65.

Calix (NYSE:CALX) last announced its earnings results on Tuesday, January 30th. The communications equipment provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. Calix had a return on equity of 7.92% and a net margin of 3.06%. The firm had revenue of $264.73 million for the quarter, compared to analyst estimates of $264.41 million. During the same quarter last year, the firm posted $0.18 EPS. The business’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts expect that Calix, Inc. will post 0.45 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Coppell Advisory Solutions Corp. purchased a new position in shares of Calix during the 4th quarter valued at approximately $45,000. Altshuler Shaham Ltd purchased a new position in shares of Calix during the 4th quarter valued at approximately $54,000. Captrust Financial Advisors lifted its position in shares of Calix by 31.7% during the 2nd quarter. Captrust Financial Advisors now owns 847 shares of the communications equipment provider’s stock valued at $29,000 after buying an additional 204 shares in the last quarter. Natixis purchased a new position in shares of Calix during the 4th quarter valued at approximately $60,000. Finally, Quarry LP lifted its position in shares of Calix by 483.2% during the 1st quarter. Quarry LP now owns 974 shares of the communications equipment provider’s stock valued at $52,000 after buying an additional 807 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

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.