Infinera Co. (NASDAQ:INFN) Short Interest Update

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

Infinera Stock Performance

NASDAQ INFN opened at $6.62 on Friday. The stock has a 50-day moving average of $6.60 and a 200 day moving average of $6.47. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. Infinera has a twelve month low of $4.41 and a twelve month high of $6.92.

Infinera (NASDAQ:INFN) last announced its earnings results 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). Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. The business had revenue of $354.40 million for the quarter, compared to analyst estimates of $401.96 million. As a group, equities research analysts expect that Infinera will post -0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INFN has been the subject of several recent research reports. B. Riley cut shares of Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. StockNews.com upgraded Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $6.65 price objective on shares of Infinera in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.09.

Hedge Funds Weigh In On Infinera

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in Infinera by 37.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,759,906 shares of the communications equipment provider’s stock valued at $16,802,000 after acquiring an additional 748,155 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Infinera by 22.4% during the 2nd quarter. AQR Capital Management LLC now owns 89,282 shares of the communications equipment provider’s stock valued at $544,000 after acquiring an additional 16,332 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Infinera by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 102,869 shares of the communications equipment provider’s stock valued at $626,000 after acquiring an additional 4,266 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Infinera in the second quarter valued at about $128,000. Finally, SG Americas Securities LLC acquired a new stake in Infinera during the third quarter worth about $556,000. Institutional investors and hedge funds own 97.54% of the company’s stock.

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.