Short Interest in Infinera Co. (NASDAQ:INFN) Declines By 5.1%

Infinera Co. (NASDAQ:INFN) was the recipient of a significant decline in short interest in January. As of January 15th, there was short interest totalling 26,670,000 shares, a decline of 5.1% from the December 31st total of 28,100,000 shares. Based on an average trading volume of 941,300 shares, the short-interest ratio is currently 28.3 days.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on INFN shares. StockNews.com raised Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. B. Riley lowered Infinera from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $6.65 price objective on shares of Infinera in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.09.

Infinera Trading Up 0.2 %

NASDAQ INFN opened at $6.63 on Tuesday. Infinera has a 52 week low of $4.41 and a 52 week high of $6.92. The company has a 50 day moving average price of $6.60 and a 200 day moving average price of $6.48. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. The firm has a market cap of $1.57 billion, a PE ratio of -13.81 and a beta of 1.63.

Infinera (NASDAQ:INFN) last announced its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The business had revenue of $354.40 million for the quarter, compared to analyst estimates of $401.96 million. As a group, sell-side analysts forecast that Infinera will post -0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Palumbo Wealth Management LLC increased its holdings in Infinera by 41.5% in the 4th quarter. Palumbo Wealth Management LLC now owns 33,883 shares of the communications equipment provider’s stock worth $223,000 after buying an additional 9,929 shares during the period. Rhumbline Advisers boosted its holdings in shares of Infinera by 1.9% in the 4th quarter. Rhumbline Advisers now owns 292,741 shares of the communications equipment provider’s stock valued at $1,923,000 after acquiring an additional 5,445 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of Infinera in the fourth quarter worth $2,306,000. SG Americas Securities LLC raised its holdings in shares of Infinera by 17.7% during the fourth quarter. SG Americas Securities LLC now owns 96,983 shares of the communications equipment provider’s stock worth $637,000 after purchasing an additional 14,595 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in Infinera by 20.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 50,074 shares of the communications equipment provider’s stock valued at $329,000 after purchasing an additional 8,363 shares during the period. Hedge funds and other 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.