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

StockNews.com initiated coverage on shares of Infinera (NASDAQ:INFN) in a report issued on Thursday. The brokerage issued a hold rating on the communications equipment provider’s stock.

Infinera Price Performance

NASDAQ:INFN opened at $6.64 on Thursday. 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 price-to-earnings ratio of -13.83 and a beta of 1.63. The firm’s 50-day simple moving average is $6.63 and its 200 day simple moving average is $6.63. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58.

Infinera (NASDAQ:INFN) last released its earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) EPS 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 firm had revenue of $414.39 million during 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 year.

Hedge Funds Weigh In On Infinera

Several hedge funds have recently bought and sold shares of INFN. Magnetar Financial LLC bought a new position in Infinera in the 4th quarter valued at about $56,240,000. PSquared Asset Management AG boosted its stake in shares of Infinera by 131.6% in the 4th quarter. PSquared Asset Management AG now owns 5,606,004 shares of the communications equipment provider’s stock valued at $36,831,000 after purchasing an additional 3,185,500 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Infinera by 2,104.8% in the 3rd quarter. Citigroup Inc. now owns 2,915,001 shares of the communications equipment provider’s stock valued at $19,676,000 after purchasing an additional 2,782,789 shares in the last quarter. Sand Grove Capital Management LLP acquired a new stake in shares of Infinera in the 3rd quarter valued at approximately $12,517,000. Finally, Toronto Dominion Bank acquired a new stake in shares of Infinera in the 4th quarter valued at approximately $4,862,000. 97.54% of the stock is owned by institutional investors.

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.