Infinera (NASDAQ:INFN) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Infinera (NASDAQ:INFN) in a report released on Friday. The brokerage set a “hold” rating on the communications equipment provider’s stock.

Infinera Stock Performance

NASDAQ INFN opened at $6.64 on Friday. 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 twelve month low of $4.49 and a twelve month high of $6.92. 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 business’s fifty day moving average is $6.63 and its 200 day moving average is $6.64.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The firm had revenue of $414.39 million for the quarter, compared to analyst estimates of $409.08 million. As a group, sell-side analysts expect that Infinera will post -0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Infinera

Several large investors have recently modified their holdings of the business. Intech Investment Management LLC acquired a new stake in Infinera in the third quarter valued at $354,000. Charles Schwab Investment Management Inc. grew its position in shares of Infinera by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,698,808 shares of the communications equipment provider’s stock valued at $11,467,000 after buying an additional 39,917 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Infinera during the 3rd quarter valued at approximately $40,000. BNP Paribas Financial Markets raised its holdings in Infinera by 33.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 114,994 shares of the communications equipment provider’s stock worth $776,000 after purchasing an additional 29,083 shares during the last quarter. Finally, Bardin Hill Management Partners LP acquired a new position in shares of Infinera in the 3rd quarter worth approximately $1,576,000. 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.