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.
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.
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.