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

Analysts at StockNews.com started coverage on shares of Infinera (NASDAQ:INFN) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the communications equipment provider’s stock.

Infinera Stock Performance

NASDAQ INFN opened at $6.64 on Wednesday. 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 52 week low of $4.41 and a 52 week high of $6.92. The business has a 50 day moving average price of $6.62 and a 200-day moving average price of $6.61. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98.

Infinera (NASDAQ:INFN) last released its quarterly earnings data 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). The firm had revenue of $414.39 million for the quarter, compared to the consensus estimate of $409.08 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. As a group, equities analysts expect that Infinera will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Infinera

Several institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its holdings in Infinera by 1.9% during the fourth quarter. Russell Investments Group Ltd. now owns 110,687 shares of the communications equipment provider’s stock worth $727,000 after buying an additional 2,097 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Infinera by 3.0% during the fourth quarter. Victory Capital Management Inc. now owns 130,242 shares of the communications equipment provider’s stock worth $856,000 after buying an additional 3,776 shares in the last quarter. Mariner LLC grew its holdings in Infinera by 23.2% during the fourth quarter. Mariner LLC now owns 23,450 shares of the communications equipment provider’s stock worth $154,000 after buying an additional 4,422 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Infinera by 0.8% in the fourth quarter. Nuveen Asset Management LLC now owns 637,922 shares of the communications equipment provider’s stock worth $4,191,000 after purchasing an additional 5,061 shares during the last quarter. Finally, Vestcor Inc purchased a new position in Infinera in the fourth quarter worth $34,000. Institutional investors 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.