Infinera Co. (NASDAQ:INFN) Short Interest Update

Infinera Co. (NASDAQ:INFN) was the target of a large drop in short interest in September. As of September 15th, there was short interest totalling 33,560,000 shares, a drop of 9.0% from the August 31st total of 36,890,000 shares. Based on an average trading volume of 8,620,000 shares, the days-to-cover ratio is presently 3.9 days.

Institutional Investors Weigh In On Infinera

Several institutional investors have recently made changes to their positions in the stock. Kovack Advisors Inc. lifted its holdings in Infinera by 39.4% during the 1st quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock worth $3,307,000 after purchasing an additional 154,904 shares in the last quarter. Vanguard Group Inc. lifted its stake in Infinera by 9.3% in the 1st quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock worth $163,108,000 after purchasing an additional 2,299,025 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Infinera in the first quarter worth $627,000. Susquehanna Fundamental Investments LLC bought a new stake in Infinera during the first quarter valued at $759,000. Finally, AMH Equity Ltd bought a new position in Infinera in the 1st quarter worth about $1,990,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Infinera Price Performance

Infinera stock opened at $6.75 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 0.94 and a debt-to-equity ratio of 5.02. The business’s 50 day simple moving average is $6.19 and its 200 day simple moving average is $5.70. Infinera has a 12 month low of $2.82 and a 12 month high of $6.92. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -19.85 and a beta of 1.71.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. The company had revenue of $342.70 million during the quarter, compared to the consensus estimate of $331.71 million. The business’s revenue was down 8.9% compared to the same quarter last year. Sell-side analysts forecast that Infinera will post -0.17 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on INFN shares. JPMorgan Chase & Co. lifted their target price on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. B. Riley dropped their price target on shares of Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a research report on Monday, August 5th. Morgan Stanley upped their price objective on shares of Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a research report on Friday, June 28th. StockNews.com assumed coverage on shares of Infinera in a research report on Friday. They set a “sell” rating on the stock. Finally, Berenberg Bank raised Infinera to a “hold” rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.09.

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.