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

Infinera Co. (NASDAQ:INFN) was the recipient of some unusual options trading activity on Wednesday. Traders acquired 5,008 call options on the stock. This represents an increase of approximately 284% compared to the typical daily volume of 1,304 call options.

Infinera Stock Up 1.0 %

Shares of NASDAQ:INFN opened at $6.26 on Thursday. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -18.41 and a beta of 1.64. The stock has a fifty day simple moving average of $5.36 and a two-hundred day simple moving average of $5.15. Infinera has a 12-month low of $2.82 and a 12-month high of $6.62. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 4.08.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.07). The business had revenue of $306.92 million during the quarter, compared to analysts’ expectations of $337.73 million. Infinera had a negative return on equity of 27.68% and a negative net margin of 5.11%. On average, research analysts anticipate that Infinera will post -0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INFN has been the topic of several recent research reports. Craig Hallum reiterated a “hold” rating and set a $6.65 price objective (down from $12.00) on shares of Infinera in a research report on Monday. B. Riley reaffirmed a “buy” rating and issued a $9.00 price target on shares of Infinera in a research note on Wednesday, May 15th. Stifel Nicolaus reiterated a “buy” rating and issued a $7.00 price target on shares of Infinera in a report on Wednesday, May 15th. Needham & Company LLC reiterated a “hold” rating on shares of Infinera in a report on Friday, June 28th. Finally, Morgan Stanley lifted their price target on Infinera from $5.40 to $6.65 and gave the company an “equal weight” rating in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.55.

Hedge Funds Weigh In On Infinera

Several large investors have recently made changes to their positions in the business. SageView Advisory Group LLC purchased a new stake in shares of Infinera during the first quarter valued at $39,000. Partners Capital Investment Group LLP purchased a new stake in shares of Infinera during the fourth quarter valued at $48,000. Worth Venture Partners LLC acquired a new position in Infinera in the 4th quarter worth approximately $53,000. Ironwood Investment Counsel LLC purchased a new stake in Infinera in the fourth quarter valued at $56,000. Finally, SG Americas Securities LLC acquired a new position in Infinera in the fourth quarter valued at approximately $81,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

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.