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

Research analysts at StockNews.com began coverage on shares of Infinera (NASDAQ:INFN) in a research note issued to investors on Friday. The brokerage set a “hold” rating on the communications equipment provider’s stock.

Infinera Stock Performance

NASDAQ:INFN opened at $6.64 on Friday. The stock’s 50-day moving average is $6.64 and its 200-day moving average is $6.65. The stock has a market cap of $1.57 billion, a P/E ratio of -13.83 and a beta of 1.63. Infinera has a 1-year low of $4.49 and a 1-year high of $6.92. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.15). The business had revenue of $414.39 million during the quarter, compared to analyst estimates of $409.08 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. Equities research analysts anticipate that Infinera will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On Infinera

A number of institutional investors have recently made changes to their positions in INFN. Intech Investment Management LLC acquired a new position in shares of Infinera in the third quarter worth approximately $354,000. Charles Schwab Investment Management Inc. lifted its position in shares of Infinera by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,698,808 shares of the communications equipment provider’s stock worth $11,467,000 after purchasing an additional 39,917 shares during the period. Quantbot Technologies LP bought a new stake in shares of Infinera in the 3rd quarter valued at $40,000. BNP Paribas Financial Markets boosted its stake in shares of Infinera by 33.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 114,994 shares of the communications equipment provider’s stock valued at $776,000 after purchasing an additional 29,083 shares during the last quarter. Finally, Bardin Hill Management Partners LP acquired a new stake in shares of Infinera during the third quarter worth $1,576,000. 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.