Infinera Co. (NASDAQ:INFN) Short Interest Update

Infinera Co. (NASDAQ:INFN) was the target of a significant decline in short interest in September. As of September 15th, there was short interest totalling 33,560,000 shares, a decline of 9.0% from the August 31st total of 36,890,000 shares. Based on an average daily volume of 8,620,000 shares, the days-to-cover ratio is currently 3.9 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. StockNews.com initiated coverage on shares of Infinera in a research report on Friday. They set a “sell” rating for the company. JPMorgan Chase & Co. raised their price objective on Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Morgan Stanley upped their target price on Infinera from $5.40 to $6.65 and gave the company an “equal weight” rating in a research report on Friday, June 28th. Craig Hallum reissued a “hold” rating and issued a $6.65 price target (down previously from $12.00) on shares of Infinera in a report on Monday, July 1st. Finally, Rosenblatt Securities lowered Infinera from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $6.65 in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.09.

Infinera Stock Down 0.4 %

Shares of INFN stock opened at $6.75 on Tuesday. Infinera has a fifty-two week low of $2.82 and a fifty-two week high of $6.92. The firm has a market capitalization of $1.58 billion, a PE ratio of -19.85 and a beta of 1.71. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57. The stock’s 50-day simple moving average is $6.19 and its 200-day simple moving average is $5.70.

Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The company had revenue of $342.70 million for the quarter, compared to the consensus estimate of $331.71 million. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities analysts expect that Infinera will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Infinera by 9.3% during the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock valued at $163,108,000 after acquiring an additional 2,299,025 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Infinera by 22.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock valued at $67,343,000 after purchasing an additional 2,025,658 shares in the last quarter. Hood River Capital Management LLC lifted its stake in shares of Infinera by 14.2% in the 2nd 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 purchasing an additional 591,611 shares during the period. AIGH Capital Management LLC grew its position in Infinera by 278.8% during the second quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider’s stock valued at $20,515,000 after buying an additional 2,479,272 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Infinera by 37.2% during the second 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 period. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.