Infinera Target of Unusually Large Options Trading (NASDAQ:INFN)

Infinera Co. (NASDAQ:INFN) was the recipient of some unusual options trading on Thursday. Stock investors purchased 11,064 put options on the stock. This represents an increase of approximately 2,229% compared to the average daily volume of 475 put options.

Infinera Trading Down 0.2 %

INFN stock opened at $6.46 on Friday. Infinera has a 52 week low of $2.82 and a 52 week high of $6.62. The company has a market capitalization of $1.52 billion, a PE ratio of -19.00 and a beta of 1.71. The company’s 50-day simple moving average is $6.04 and its 200 day simple moving average is $5.55. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57.

Infinera (NASDAQ:INFN) last released its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $342.70 million for the quarter, compared to analyst estimates of $331.71 million. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. Infinera’s revenue for the quarter was down 8.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Infinera will post -0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on INFN shares. StockNews.com began coverage on shares of Infinera in a research report on Wednesday. They issued a “sell” rating for the company. Needham & Company LLC reissued a “hold” rating on shares of Infinera in a research report on Friday, June 28th. Rosenblatt Securities lowered shares of Infinera from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $8.00 to $6.65 in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. Finally, Morgan Stanley upped their price objective on Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a research report on Friday, June 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Infinera currently has an average rating of “Hold” and an average price target of $7.09.

Institutional Trading of Infinera

Large investors have recently bought and sold shares of the business. AIGH Capital Management LLC increased its holdings in shares of Infinera by 278.8% during the second quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider’s stock worth $20,515,000 after buying an additional 2,479,272 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Infinera by 9.3% during the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock valued at $163,108,000 after purchasing an additional 2,299,025 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Infinera by 22.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock worth $67,343,000 after purchasing an additional 2,025,658 shares during the last quarter. Water Island Capital LLC acquired a new position in shares of Infinera in the second quarter valued at approximately $9,196,000. Finally, Hood River Capital Management LLC boosted its position in Infinera by 52.5% during the 1st quarter. Hood River Capital Management LLC now owns 4,162,231 shares of the communications equipment provider’s stock worth $25,098,000 after buying an additional 1,432,016 shares during the period. 97.54% of the stock is owned by institutional investors and hedge funds.

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.