Calix (NYSE:CALX) Trading Down 10% - What's Next?

Calix, Inc. (NYSE:CALX - Get Free Report)'s share price traded down 10% on Monday . The company traded as low as $28.88 and last traded at $28.72. 167,111 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 674,857 shares. The stock had previously closed at $31.91.

Analyst Ratings Changes

A number of research analysts have recently commented on CALX shares. JPMorgan Chase & Co. increased their price target on Calix from $38.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Needham & Company LLC reissued a "buy" rating and set a $45.00 target price on shares of Calix in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $43.17.

Calix Trading Up 2.7 %

The stock's 50-day moving average price is $37.73 and its 200-day moving average price is $36.41. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -72.78 and a beta of 1.78.

Calix (NYSE:CALX - Get Free Report) last released its earnings results on Wednesday, January 29th. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.31). Calix had a negative net margin of 3.58% and a negative return on equity of 3.43%. As a group, analysts predict that Calix, Inc. will post -0.43 earnings per share for the current year.

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Insider Buying and Selling

In other Calix news, Director Carl Russo sold 25,000 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $38.15, for a total value of $953,750.00. Following the completion of the sale, the director now directly owns 2,164,188 shares in the company, valued at approximately $82,563,772.20. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Calix

Institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its position in Calix by 367.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 814 shares of the communications equipment provider's stock valued at $28,000 after buying an additional 640 shares in the last quarter. Avior Wealth Management LLC raised its position in shares of Calix by 998.1% during the third 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 period. Pacer Advisors Inc. lifted its holdings in shares of Calix by 29.8% in 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 in the last quarter. Truvestments Capital LLC acquired a new stake in Calix in the 3rd quarter valued at $76,000. Finally, Quantbot Technologies LP bought a new stake in Calix during the 4th quarter valued at $84,000. Institutional investors own 98.14% of the company's stock.

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.