Insider Buying: Calix Inc (NYSE:CALX) Director Buys 10,100 Shares of Stock

Calix Inc (NYSE:CALX) Director Kevin A. Denuccio acquired 10,100 shares of the business’s stock in a transaction on Friday, August 16th. The shares were purchased at an average price of $5.79 per share, for a total transaction of $58,479.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of NYSE CALX opened at $6.51 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average price is $6.04 and its two-hundred day moving average price is $6.79. The stock has a market capitalization of $351.49 million, a P/E ratio of -19.73 and a beta of 0.67. Calix Inc has a 52-week low of $5.60 and a 52-week high of $11.30.

Calix (NYSE:CALX) last announced its quarterly earnings results on Tuesday, July 23rd. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $100.30 million for the quarter, compared to analysts’ expectations of $99.95 million. Calix had a negative return on equity of 8.70% and a negative net margin of 4.66%. On average, analysts anticipate that Calix Inc will post -0.13 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of Calix during the 2nd quarter worth approximately $25,000. US Bancorp DE grew its holdings in Calix by 1,033.8% in the 2nd quarter. US Bancorp DE now owns 4,093 shares of the communications equipment provider’s stock worth $27,000 after buying an additional 3,732 shares in the last quarter. Quantamental Technologies LLC bought a new position in Calix in the 1st quarter worth approximately $31,000. Signaturefd LLC bought a new position in Calix in the 2nd quarter worth approximately $57,000. Finally, BNP Paribas Arbitrage SA grew its holdings in Calix by 966.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,309 shares of the communications equipment provider’s stock worth $72,000 after buying an additional 8,436 shares in the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

Several analysts have issued reports on the company. Northland Securities restated a “buy” rating and set a $8.50 price objective on shares of Calix in a research note on Thursday, July 25th. Zacks Investment Research cut Calix from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $8.38.

About Calix

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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