Calix Inc (NYSE: CALX) stock jumped 1.26% on Monday to $38.67 against a previous-day closing price of $38.19. With 0.53 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.74 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $38.87 whereas the lowest price it dropped to was $37.61. The 52-week range on CALX shows that it touched its highest point at $77.44 and its lowest point at $31.95 during that stretch. It currently has a 1-year price target of $54.75. Beta for the stock currently stands at 1.55.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CALX was up-trending over the past week, with a rise of 11.02%, but this was down by -10.61% over a month. Three-month performance dropped to -4.96% while six-month performance fell -16.43%. The stock lost -40.97% in the past year, while it has lost -43.49% so far this year. A look at the trailing 12-month EPS for CALX yields 0.69 with Next year EPS estimates of 1.65. For the next quarter, that number is 0.36. This implies an EPS growth rate of 31.92% for this year and 11.59% for next year.
Float and Shares Shorts:
At present, 65.73 million CALX shares are outstanding with a float of 57.92 million shares on hand for trading. On Oct 30, 2023, short shares totaled 2.58 million, which was 3.92% higher than short shares on Sep 28, 2023. In addition to Mr. Michael Weening as the firm’s CEO, President & Director, Mr. Cory J. Sindelar serves as its CFO & Chief Accounting Officer.
Institutional Ownership:
Through their ownership of 84.07% of CALX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 48.46% of CALX, in contrast to 35.18% held by mutual funds. Shares owned by individuals account for 25.77%. As the largest shareholder in CALX with 10.49% of the stake, BlackRock Fund Advisors holds 6,908,333 shares worth 6,908,333. A second-largest stockholder of CALX, The Vanguard Group, Inc., holds 6,193,372 shares, controlling over 9.40% of the firm’s shares. AllianceBernstein LP is the third largest shareholder in CALX, holding 2,369,752 shares or 3.60% stake. With a 2.77% stake in CALX, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 1,822,799 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.68% of CALX stock, is the second-largest Mutual Fund holder. It holds 1,764,537 shares valued at 58.44 million. Vanguard Small Cap Index Fund holds 2.21% of the stake in CALX, owning 1,455,501 shares worth 48.21 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CALX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CALX analysts setting a high price target of $75.00 and a low target of $42.00, the average target price over the next 12 months is $54.75. Based on these targets, CALX could surge 93.95% to reach the target high and rise by 8.61% to reach the target low. Reaching the average price target will result in a growth of 41.58% from current levels.
Summary of Insider Activity:
Insiders traded CALX stock several times over the past three months with 3 Buys and 1 Sells. In these transactions, 60,000 shares were bought while 60,000 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 7 over the past year. The total number of shares bought during that period was 310,744 while 191,500 shares were sold.
