Infinera Co. (NASDAQ:INFN) Short Interest Down 99.4% in February

Infinera Co. (NASDAQ:INFN) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 170,000 shares, a drop of 99.4% from the February 13th total of 26,800,000 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 153,100 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Trading of Infinera

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INFN. Vestcor Inc purchased a new stake in Infinera in the fourth quarter valued at approximately $34,000. Quantbot Technologies LP purchased a new stake in Infinera in the third quarter valued at approximately $40,000. LPL Financial LLC purchased a new stake in Infinera in the fourth quarter valued at approximately $70,000. Wealthfront Advisers LLC purchased a new stake in Infinera in the fourth quarter valued at approximately $76,000. Finally, Cibc World Markets Corp purchased a new stake in Infinera in the fourth quarter valued at approximately $124,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Infinera Price Performance

INFN stock opened at $6.64 on Thursday. The firm has a market cap of $1.57 billion, a PE ratio of -13.83 and a beta of 1.63. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58. The firm’s 50 day moving average price is $6.62 and its 200-day moving average price is $6.61. Infinera has a one year low of $4.41 and a one year high of $6.92.

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

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Infinera in a research note on Wednesday. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Infinera presently has an average rating of “Hold” and a consensus price target of $7.09.

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.