Infinera Corp. (NASDAQ:INFN) was the target of a large growth in short interest in September. As of September 28th, there was short interest totalling 20,120,208 shares, a growth of 23.3% from the September 14th total of 16,318,108 shares. Based on an average trading volume of 2,577,666 shares, the short-interest ratio is currently 7.8 days. Currently, 13.5% of the shares of the stock are short sold.
A number of institutional investors have recently made changes to their positions in INFN. Hsbc Holdings PLC bought a new position in Infinera in the 1st quarter valued at $123,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Infinera by 100.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,567 shares of the communications equipment provider’s stock valued at $155,000 after acquiring an additional 7,800 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Infinera in the 2nd quarter valued at $242,000. Verition Fund Management LLC bought a new position in Infinera in the 1st quarter valued at $328,000. Finally, Bayesian Capital Management LP bought a new position in Infinera in the 1st quarter valued at $441,000. 83.12% of the stock is currently owned by institutional investors.
NASDAQ:INFN opened at $5.92 on Friday. Infinera has a fifty-two week low of $5.65 and a fifty-two week high of $12.39. The firm has a market cap of $1.12 billion, a P/E ratio of -7.13 and a beta of 0.08.
Infinera (NASDAQ:INFN) last released its quarterly earnings results on Tuesday, August 7th. The communications equipment provider reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The company had revenue of $208.23 million for the quarter, compared to analyst estimates of $208.96 million. Infinera had a negative return on equity of 13.09% and a negative net margin of 19.95%. During the same quarter in the prior year, the firm posted ($0.15) EPS. As a group, equities analysts forecast that Infinera will post -0.39 earnings per share for the current fiscal year.
Several analysts have recently issued reports on the company. ValuEngine raised Infinera from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. MKM Partners decreased their price target on Infinera to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, July 24th. B. Riley decreased their price target on Infinera from $10.00 to $9.50 and set a “neutral” rating on the stock in a report on Wednesday, August 8th. BidaskClub lowered Infinera from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Finally, Rosenblatt Securities set a $13.00 price target on Infinera and gave the company a “buy” rating in a report on Tuesday, July 24th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $10.72.
Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.
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