StockNews.com Begins Coverage on Infinera (NASDAQ:INFN)

Stock analysts at StockNews.com initiated coverage on shares of Infinera (NASDAQ:INFN) in a research note issued to investors on Saturday. The firm set a “hold” rating on the communications equipment provider’s stock.

Infinera Price Performance

NASDAQ:INFN opened at $6.64 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. The business’s 50-day moving average price is $6.64 and its 200 day moving average price is $6.65. Infinera has a 52-week low of $4.49 and a 52-week high of $6.92. The firm has a market cap of $1.57 billion, a P/E ratio of -13.83 and a beta of 1.63.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.15). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The business had revenue of $414.39 million for the quarter, compared to the consensus estimate of $409.08 million. As a group, sell-side analysts predict that Infinera will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infinera

A number of hedge funds and other institutional investors have recently modified their holdings of INFN. Vestcor Inc purchased a new stake in Infinera during the fourth quarter valued at about $34,000. Quantbot Technologies LP purchased a new stake in shares of Infinera in the 3rd quarter valued at approximately $40,000. LPL Financial LLC acquired a new position in Infinera in the 4th quarter worth approximately $70,000. Wealthfront Advisers LLC purchased a new position in Infinera during the 4th quarter worth approximately $76,000. Finally, Cibc World Markets Corp acquired a new stake in Infinera during the 4th quarter valued at $124,000. 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.