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

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

Infinera Stock Performance

Infinera stock opened at $6.64 on Wednesday. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97. The firm’s fifty day moving average price is $6.64 and its 200 day moving average price is $6.63. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.63. Infinera has a 12-month low of $4.93 and a 12-month 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 business had revenue of $414.39 million during the quarter, compared to analyst estimates of $409.08 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. On average, research analysts forecast that Infinera will post -0.33 EPS for the current fiscal year.

Institutional Trading of Infinera

A number of hedge funds and other institutional investors have recently made changes to their positions in INFN. Magnetar Financial LLC acquired a new position in Infinera during the 4th quarter worth $56,240,000. PSquared Asset Management AG lifted its position in shares of Infinera by 131.6% during the fourth quarter. PSquared Asset Management AG now owns 5,606,004 shares of the communications equipment provider’s stock worth $36,831,000 after purchasing an additional 3,185,500 shares during the last quarter. Wellington Management Group LLP grew its stake in Infinera by 2.0% in the fourth quarter. Wellington Management Group LLP now owns 2,690,238 shares of the communications equipment provider’s stock worth $17,675,000 after purchasing an additional 52,381 shares in the last quarter. Northern Trust Corp increased its holdings in Infinera by 12.5% in the fourth quarter. Northern Trust Corp now owns 1,977,504 shares of the communications equipment provider’s stock valued at $12,992,000 after buying an additional 219,427 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in Infinera by 4.3% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 1,781,476 shares of the communications equipment provider’s stock valued at $12,133,000 after buying an additional 73,049 shares in the last quarter. Institutional investors own 97.54% of the company’s stock.

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.