Infinera Co. (NASDAQ:INFN) Sees Significant Drop in Short Interest

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

Infinera Price Performance

INFN opened at $6.64 on Tuesday. Infinera has a fifty-two week low of $3.79 and a fifty-two week high of $6.92. The firm has a market capitalization of $1.57 billion, a P/E ratio of -13.83 and a beta of 1.71. The company’s 50-day moving average is $6.70 and its 200 day moving average is $6.07. 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 (NASDAQ:INFN) last posted its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). The firm had revenue of $354.40 million for the quarter, compared to the consensus estimate of $401.96 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. Research analysts expect that Infinera will post -0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Infinera by 9.3% during 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 during the period. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Infinera by 22.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock worth $67,343,000 after buying an additional 2,025,658 shares during the last quarter. Geode Capital Management LLC raised its position in Infinera by 1.0% in the third quarter. Geode Capital Management LLC now owns 4,829,486 shares of the communications equipment provider’s stock worth $32,605,000 after acquiring an additional 47,925 shares during the period. Hood River Capital Management LLC boosted its stake in Infinera by 14.2% in the second quarter. Hood River Capital Management LLC now owns 4,753,842 shares of the communications equipment provider’s stock valued at $28,951,000 after acquiring an additional 591,611 shares during the last quarter. Finally, AIGH Capital Management LLC grew its position in shares of Infinera by 278.8% during the 2nd quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider’s stock valued at $20,515,000 after acquiring an additional 2,479,272 shares during the period. 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.