Calix (NYSE:CALX) Shares Gap Up – Should You Buy?

Calix, Inc. (NYSE:CALXGet Free Report)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $36.87, but opened at $40.00. Calix shares last traded at $40.82, with a volume of 241,233 shares changing hands.

Analysts Set New Price Targets

CALX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Calix from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price on shares of Calix in a research report on Thursday. Finally, StockNews.com raised shares of Calix from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Calix currently has a consensus rating of “Moderate Buy” and an average target price of $43.17.

Check Out Our Latest Research Report on Calix

Calix Price Performance

The business’s 50 day simple moving average is $35.78 and its 200-day simple moving average is $36.30. The stock has a market capitalization of $2.64 billion, a P/E ratio of -88.38 and a beta of 1.68.

Calix (NYSE:CALXGet Free Report) 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 the consensus estimate of $0.07 by ($0.31). Calix had a negative return on equity of 3.46% and a negative net margin of 3.58%. Research analysts anticipate that Calix, Inc. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Calix

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Calix by 187.9% during the 3rd quarter. GAMMA Investing LLC now owns 668 shares of the communications equipment provider’s stock worth $26,000 after acquiring an additional 436 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Calix in the third quarter worth $34,000. Arcadia Investment Management Corp MI bought a new position in shares of Calix during the third quarter worth $39,000. Avior Wealth Management LLC grew its holdings in shares of Calix by 998.1% in the 3rd quarter. Avior Wealth Management LLC now owns 1,186 shares of the communications equipment provider’s stock valued at $46,000 after buying an additional 1,078 shares during the period. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Calix by 29.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,385 shares of the communications equipment provider’s stock valued at $54,000 after buying an additional 318 shares during the period. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Calix Company Profile

(Get Free Report)

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.

Further Reading

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