Infinera Co. (NASDAQ:INFN) Short Interest Update

Infinera Co. (NASDAQ:INFN) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 26,670,000 shares, a decrease of 5.1% from the December 31st total of 28,100,000 shares. Based on an average daily trading volume, of 941,300 shares, the days-to-cover ratio is presently 28.3 days.

Infinera Stock Performance

NASDAQ:INFN traded up $0.01 during midday trading on Monday, reaching $6.63. The stock had a trading volume of 412,765 shares, compared to its average volume of 619,170. The stock has a market capitalization of $1.57 billion, a P/E ratio of -13.81 and a beta of 1.63. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97. Infinera has a 1-year low of $4.41 and a 1-year high of $6.92. The firm’s fifty day simple moving average is $6.60 and its 200-day simple moving average is $6.47.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $354.40 million for the quarter, compared to analyst estimates of $401.96 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. On average, equities research analysts forecast that Infinera will post -0.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $6.65 target price 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. Finally, B. Riley downgraded shares of Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.09.

Hedge Funds Weigh In On Infinera

Several large investors have recently added to or reduced their stakes in the company. Citigroup Inc. raised its position in Infinera by 2,104.8% in the 3rd quarter. Citigroup Inc. now owns 2,915,001 shares of the communications equipment provider’s stock valued at $19,676,000 after purchasing an additional 2,782,789 shares during the last quarter. Alpine Associates Management Inc. acquired a new stake in Infinera in the 3rd quarter valued at about $13,761,000. Sand Grove Capital Management LLP acquired a new position in Infinera during the 3rd quarter worth $12,517,000. Dimensional Fund Advisors LP boosted its position in Infinera by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,759,906 shares of the communications equipment provider’s stock valued at $16,802,000 after buying an additional 748,155 shares during the last quarter. Finally, ABC Arbitrage SA acquired a new stake in Infinera in the fourth quarter worth about $2,306,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

Infinera Company Profile

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.