Infinera Co. (NASDAQ:INFN) Sees Large Decline in Short Interest

Infinera Co. (NASDAQ:INFN) was the recipient of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 45,070,000 shares, a decline of 14.8% from the June 30th total of 52,870,000 shares. Based on an average daily volume of 4,450,000 shares, the days-to-cover ratio is currently 10.1 days.

Infinera Stock Performance

INFN stock remained flat at $5.94 during midday trading on Wednesday. The company’s stock had a trading volume of 4,915,315 shares, compared to its average volume of 3,983,878. Infinera has a fifty-two week low of $2.82 and a fifty-two week high of $6.62. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 4.08. The stock’s 50-day simple moving average is $5.70 and its 200 day simple moving average is $5.34. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -17.47 and a beta of 1.64.

Infinera (NASDAQ:INFN) last released its earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). The business had revenue of $306.92 million for the quarter, compared to the consensus estimate of $337.73 million. Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. Research analysts anticipate that Infinera will post -0.19 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. SageView Advisory Group LLC bought a new position in Infinera in the first quarter worth approximately $39,000. Partners Capital Investment Group LLP bought a new stake in Infinera during the 4th quarter valued at $48,000. Worth Venture Partners LLC bought a new stake in Infinera during the 4th quarter valued at $53,000. Ironwood Investment Counsel LLC bought a new stake in Infinera during the 4th quarter valued at $56,000. Finally, SG Americas Securities LLC bought a new stake in Infinera during the 4th quarter valued at $81,000. Institutional investors own 97.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on INFN shares. Craig Hallum reaffirmed a “hold” rating and issued a $6.65 price objective (down previously from $12.00) on shares of Infinera in a report on Monday, July 1st. Needham & Company LLC reissued a “hold” rating on shares of Infinera in a report on Friday, June 28th. Morgan Stanley boosted their price target on Infinera from $5.40 to $6.65 and gave the company an “equal weight” rating in a report on Friday, June 28th. B. Riley reissued a “buy” rating and set a $9.00 price target on shares of Infinera in a report on Wednesday, May 15th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $7.00 price target on shares of Infinera in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $7.55.

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.