Infinera (NASDAQ:INFN) Coverage Initiated at StockNews.com

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

Infinera Stock Performance

INFN opened at $6.64 on Friday. The company’s 50 day moving average is $6.64 and its 200 day moving average is $6.64. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.63. Infinera has a 12-month low of $4.49 and a 12-month high of $6.92.

Infinera (NASDAQ:INFN) last issued its quarterly earnings results 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 return on equity of 45.12% and a negative net margin of 7.62%. The business had revenue of $414.39 million for the quarter, compared to analysts’ expectations of $409.08 million. On average, equities research analysts predict that Infinera will post -0.33 EPS for the current year.

Institutional Trading of Infinera

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in shares of Infinera by 2.0% during the 4th quarter. Wellington Management Group LLP now owns 2,690,238 shares of the communications equipment provider’s stock valued at $17,675,000 after buying an additional 52,381 shares in the last quarter. Mackenzie Financial Corp raised its stake in Infinera by 56.4% during the 4th quarter. Mackenzie Financial Corp now owns 23,485 shares of the communications equipment provider’s stock worth $154,000 after acquiring an additional 8,466 shares during the period. Toronto Dominion Bank purchased a new position in Infinera during the fourth quarter valued at approximately $4,862,000. Squarepoint Ops LLC boosted its position in shares of Infinera by 9.2% in the fourth quarter. Squarepoint Ops LLC now owns 1,500,000 shares of the communications equipment provider’s stock worth $9,855,000 after purchasing an additional 126,527 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of Infinera by 77.8% in the fourth quarter. Tidal Investments LLC now owns 229,200 shares of the communications equipment provider’s stock worth $1,506,000 after purchasing an additional 100,317 shares in the last quarter. Hedge funds and other 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.