Infinera (NASDAQ:INFN) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Infinera (NASDAQ:INFN) in a report released on Sunday. The firm set a “hold” rating on the communications equipment provider’s stock.

Infinera Stock Performance

Infinera stock opened at $6.64 on Friday. Infinera has a fifty-two week low of $4.49 and a fifty-two week high of $6.92. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.63. The stock’s 50 day simple moving average is $6.64 and its two-hundred 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.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.15). The firm had revenue of $414.39 million for the quarter, compared to the consensus estimate of $409.08 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. As a group, analysts expect 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 and other institutional investors have recently bought and sold shares of INFN. Geode Capital Management LLC boosted its position in shares of Infinera by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,829,486 shares of the communications equipment provider’s stock worth $32,605,000 after purchasing an additional 47,925 shares in the last quarter. Tidal Investments LLC boosted its holdings in Infinera by 4.9% in the third quarter. Tidal Investments LLC now owns 128,883 shares of the communications equipment provider’s stock worth $870,000 after acquiring an additional 6,066 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Infinera by 20.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 50,074 shares of the communications equipment provider’s stock worth $329,000 after acquiring an additional 8,363 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Infinera by 17.7% during the fourth quarter. SG Americas Securities LLC now owns 96,983 shares of the communications equipment provider’s stock valued at $637,000 after acquiring an additional 14,595 shares in the last quarter. Finally, ABC Arbitrage SA purchased a new position in shares of Infinera in the 4th quarter worth about $2,306,000. Hedge funds and other institutional investors 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.