Infinera Corp. (INFN) Short Interest Update

Infinera Corp. (NASDAQ:INFN) was the recipient of a large increase in short interest in the month of September. As of September 14th, there was short interest totalling 16,318,108 shares, an increase of 37.1% from the August 31st total of 11,905,079 shares. Based on an average trading volume of 3,591,044 shares, the short-interest ratio is currently 4.5 days. Currently, 10.9% of the shares of the company are sold short.

NASDAQ:INFN opened at $7.26 on Thursday. Infinera has a one year low of $6.10 and a one year high of $12.39. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -8.89 and a beta of 0.14.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Tuesday, August 7th. The communications equipment provider reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03. Infinera had a negative net margin of 19.95% and a negative return on equity of 13.09%. The company had revenue of $208.23 million for the quarter, compared to analyst estimates of $208.96 million. During the same period in the prior year, the company earned ($0.15) earnings per share. equities research analysts anticipate that Infinera will post -0.39 EPS for the current year.

Several research firms recently issued reports on INFN. Morgan Stanley set a $10.00 target price on Infinera and gave the company a “buy” rating in a research report on Wednesday. BidaskClub downgraded Infinera from a “sell” rating to a “strong sell” rating in a research report on Friday, September 14th. ValuEngine downgraded Infinera from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Zacks Investment Research downgraded Infinera from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, B. Riley cut their target price on Infinera from $10.00 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, August 8th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.00.

A number of large investors have recently bought and sold shares of INFN. Bank of New York Mellon Corp boosted its holdings in Infinera by 10.1% in the second quarter. Bank of New York Mellon Corp now owns 13,804,996 shares of the communications equipment provider’s stock valued at $137,084,000 after purchasing an additional 1,265,072 shares during the last quarter. BlackRock Inc. boosted its holdings in Infinera by 12.5% in the second quarter. BlackRock Inc. now owns 10,961,436 shares of the communications equipment provider’s stock valued at $108,849,000 after purchasing an additional 1,222,230 shares during the last quarter. Millennium Management LLC boosted its holdings in Infinera by 1,021.4% in the first quarter. Millennium Management LLC now owns 1,099,867 shares of the communications equipment provider’s stock valued at $11,945,000 after purchasing an additional 1,001,790 shares during the last quarter. Royal Bank of Canada boosted its holdings in Infinera by 1,721.2% in the first quarter. Royal Bank of Canada now owns 186,835 shares of the communications equipment provider’s stock valued at $2,029,000 after purchasing an additional 176,576 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Infinera by 582.9% in the second quarter. Canada Pension Plan Investment Board now owns 203,499 shares of the communications equipment provider’s stock valued at $2,021,000 after purchasing an additional 173,699 shares during the last quarter. 83.12% of the stock is currently owned by institutional investors.

Infinera Company Profile

Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

Further Reading: Price to Earnings Ratio (PE)

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