Infinera Co. (NASDAQ:INFN) Short Interest Update

Infinera Co. (NASDAQ:INFN) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 27,830,000 shares, a drop of 5.1% from the October 15th total of 29,320,000 shares. Based on an average daily volume of 7,130,000 shares, the short-interest ratio is currently 3.9 days.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Rosenblatt Securities restated a “neutral” rating and set a $6.65 price objective on shares of Infinera in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their price objective on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. B. Riley cut shares of Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Berenberg Bank raised Infinera to a “hold” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.09.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quantbot Technologies LP acquired a new stake in shares of Infinera in the 3rd quarter valued at $40,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Infinera in the second quarter worth about $104,000. Headlands Technologies LLC bought a new stake in shares of Infinera during the 2nd quarter worth about $112,000. Algert Global LLC acquired a new position in shares of Infinera during the 2nd quarter valued at about $128,000. Finally, Palumbo Wealth Management LLC increased its holdings in shares of Infinera by 8.4% during the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after acquiring an additional 1,850 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

Infinera Stock Performance

INFN stock opened at $6.64 on Monday. The stock has a market cap of $1.57 billion, a P/E ratio of -13.83 and a beta of 1.71. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58. The firm has a 50 day simple moving average of $6.69 and a 200 day simple moving average of $6.06. Infinera has a 52 week low of $3.79 and a 52 week high of $6.92.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The firm had revenue of $354.40 million for the quarter, compared to analysts’ expectations of $401.96 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. Research analysts anticipate that Infinera will post -0.22 earnings per share for the current fiscal year.

About Infinera

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.