Infinera Co. (NASDAQ:INFN) Sees Significant Decrease in Short Interest

Infinera Co. (NASDAQ:INFN - Get Free Report) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 27,830,000 shares, a decline of 5.1% from the October 15th total of 29,320,000 shares. Based on an average daily trading volume, of 7,130,000 shares, the days-to-cover ratio is presently 3.9 days.

Infinera Stock Performance

Shares of NASDAQ:INFN traded down $0.02 during midday trading on Monday, hitting $6.62. The stock had a trading volume of 564,927 shares, compared to its average volume of 4,925,266. Infinera has a 1 year low of $3.79 and a 1 year high of $6.92. The stock has a 50 day moving average price of $6.69 and a two-hundred day moving average price of $6.06. The company has a market capitalization of $1.57 billion, a PE ratio of -13.83 and a beta of 1.71. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). The firm had revenue of $354.40 million during the quarter, compared to the consensus estimate of $401.96 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. As a group, equities analysts predict that Infinera will post -0.22 earnings per share for the current fiscal year.

Institutional Trading of Infinera

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Palumbo Wealth Management LLC increased its holdings in Infinera by 8.4% in the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider's stock valued at $162,000 after buying an additional 1,850 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Infinera by 3.9% during the second quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider's stock valued at $355,000 after purchasing an additional 2,180 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Infinera by 8.5% during the first quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider's stock valued at $216,000 after purchasing an additional 2,821 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of Infinera by 8.7% during the first quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider's stock valued at $286,000 after purchasing an additional 3,800 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Infinera by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 102,869 shares of the communications equipment provider's stock worth $626,000 after buying an additional 4,266 shares during the period. 97.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on INFN shares. Rosenblatt Securities restated a "neutral" rating and issued a $6.65 price objective on shares of Infinera in a report on Wednesday, November 6th. B. Riley downgraded shares of Infinera from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. increased their target price on shares of Infinera from $5.00 to $6.00 and gave the company an "underweight" rating in a research report on Tuesday, August 6th. Berenberg Bank raised shares of Infinera to a "hold" rating in a research report on Monday, August 5th. Finally, StockNews.com raised shares of 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $7.09.

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.