Short Interest in Infinera Co. (NASDAQ:INFN) Decreases By 14.8%

Infinera Co. (NASDAQ:INFN) was the target of a large decline in short interest in 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 trading volume of 4,450,000 shares, the short-interest ratio is currently 10.1 days.

Infinera Price Performance

INFN stock remained flat at $5.94 during mid-day 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. The company has a market capitalization of $1.39 billion, a P/E ratio of -17.47 and a beta of 1.64. Infinera has a 12-month low of $2.82 and a 12-month high of $6.62. The stock’s 50 day moving average is $5.70 and its 200 day moving average is $5.34. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.65 and a quick ratio of 0.97.

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

Analysts Set New Price Targets

INFN has been the subject of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of Infinera in a research note on Friday, June 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $7.00 price objective on shares of Infinera in a report on Wednesday, May 15th. Craig Hallum reissued a “hold” rating and issued a $6.65 target price (down from $12.00) on shares of Infinera in a research note on Monday, July 1st. B. Riley reiterated a “buy” rating and issued a $9.00 price objective on shares of Infinera in a research report on Wednesday, May 15th. Finally, Morgan Stanley upped their target price on shares of Infinera from $5.40 to $6.65 and gave the company an “equal weight” rating in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.55.

Hedge Funds Weigh In On Infinera

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

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.