StockNews.com Initiates Coverage on Infinera (NASDAQ:INFN)

Investment analysts at StockNews.com began coverage on shares of Infinera (NASDAQ:INFN) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the communications equipment provider’s stock.

Infinera Stock Performance

Shares of NASDAQ:INFN opened at $6.64 on Tuesday. Infinera has a one year low of $4.75 and a one year high of $6.92. The business’s 50-day simple moving average is $6.64 and its 200 day simple moving average is $6.64. 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 company has a market cap of $1.57 billion, a P/E ratio of -13.83 and a beta of 1.63.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The business had revenue of $414.39 million for the quarter, compared to analyst estimates of $409.08 million. On average, sell-side analysts forecast that Infinera will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Infinera

A number of hedge funds have recently bought and sold shares of INFN. Vestcor Inc acquired a new stake in shares of Infinera during the 4th quarter valued at approximately $34,000. LPL Financial LLC acquired a new stake in shares of Infinera during the fourth quarter worth $70,000. Wealthfront Advisers LLC bought a new position in shares of Infinera in the 4th quarter worth about $76,000. Cibc World Markets Corp bought a new position in shares of Infinera in the 4th quarter worth about $124,000. Finally, Gotham Asset Management LLC bought a new position in shares of Infinera in the 4th quarter worth about $137,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

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.