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

StockNews.com began coverage on shares of Infinera (NASDAQ:INFN) in a report issued on Thursday morning. The brokerage issued a hold rating on the communications equipment provider’s stock.

Infinera Stock Performance

INFN stock opened at $6.64 on Thursday. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.83 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. The business has a fifty day moving average price of $6.63 and a 200 day moving average price of $6.63. Infinera has a fifty-two week low of $4.49 and a fifty-two week high of $6.92.

Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Thursday, March 6th. The communications equipment provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). The firm had revenue of $414.39 million during 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%. Analysts expect that Infinera will post -0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in INFN. Intech Investment Management LLC bought a new position in shares of Infinera in the 3rd quarter worth $354,000. Charles Schwab Investment Management Inc. lifted its holdings in Infinera by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,698,808 shares of the communications equipment provider’s stock worth $11,467,000 after acquiring an additional 39,917 shares in the last quarter. Citigroup Inc. lifted its holdings in Infinera by 2,104.8% during the third quarter. Citigroup Inc. now owns 2,915,001 shares of the communications equipment provider’s stock worth $19,676,000 after acquiring an additional 2,782,789 shares in the last quarter. Quantbot Technologies LP bought a new position in Infinera during the third quarter worth about $40,000. Finally, BNP Paribas Financial Markets lifted its holdings in Infinera by 33.9% during the third quarter. BNP Paribas Financial Markets now owns 114,994 shares of the communications equipment provider’s stock worth $776,000 after acquiring an additional 29,083 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors.

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.