Infinera Co. (NASDAQ:INFN) Short Interest Update

Infinera Co. (NASDAQ:INFN - Get Free Report) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 26,670,000 shares, a drop of 5.1% from the December 15th total of 28,100,000 shares. Based on an average daily volume of 941,300 shares, the short-interest ratio is currently 28.3 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on INFN shares. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $6.65 target price on shares of Infinera in a research note on Wednesday, November 6th. B. Riley downgraded Infinera from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded Infinera from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $7.09.

Infinera Stock Up 0.6 %

NASDAQ INFN traded up $0.04 during trading hours on Friday, hitting $6.59. 550,314 shares of the company's stock were exchanged, compared to its average volume of 662,555. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58. The business's 50 day moving average is $6.61 and its 200-day moving average is $6.44. Infinera has a 12-month low of $4.41 and a 12-month high of $6.92.

Infinera (NASDAQ:INFN - Get Free Report) last released its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. The company had revenue of $354.40 million during the quarter, compared to analyst estimates of $401.96 million. Sell-side analysts forecast that Infinera will post -0.33 earnings per share for the current fiscal year.

Institutional Trading of Infinera

Institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new position in Infinera in the third quarter valued at $40,000. EverSource Wealth Advisors LLC acquired a new position in shares of Infinera in the 2nd quarter valued at about $104,000. Algert Global LLC acquired a new position in shares of Infinera in the 2nd quarter valued at about $128,000. Palumbo Wealth Management LLC grew its holdings in shares of Infinera by 8.4% during the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider's stock worth $162,000 after purchasing an additional 1,850 shares during the period. Finally, Creative Planning increased its position in Infinera by 87.3% during the 3rd quarter. Creative Planning now owns 30,443 shares of the communications equipment provider's stock worth $205,000 after purchasing an additional 14,193 shares in the last quarter. 97.54% of the stock is owned by hedge funds and other 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.