Infinera Corp. Short Interest Down 4.1% in June (INFN)
Infinera Corp. (NASDAQ:INFN) was the target of a large decline in short interest during the month of June. As of June 13th, there was short interest totalling 13,575,416 shares, a decline of 4.1% from the May 30th total of 14,156,742 shares, AnalystRatingsNetwork.com reports. Currently, 11.4% of the shares of the company are short sold. Based on an average daily trading volume, of 1,394,395 shares, the days-to-cover ratio is currently 9.7 days.
INFN has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Infinera Corp. from an “outperform” rating to a “neutral” rating in a research note on Tuesday, June 17th. They now have a $10.00 price target on the stock. Separately, analysts at Goldman Sachs upgraded shares of Infinera Corp. from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, April 29th. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Infinera Corp. in a research note on Thursday, April 24th. They now have a $10.50 price target on the stock. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Infinera Corp. currently has an average rating of “Buy” and an average price target of $11.86.
Infinera Corp. (NASDAQ:INFN) opened at 9.24 on Wednesday. Infinera Corp. has a 1-year low of $6.96 and a 1-year high of $12.16. The stock’s 50-day moving average is $9.10 and its 200-day moving average is $8.87. The company’s market cap is $1.132 billion.
Infinera Corp. (NASDAQ:INFN) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. The company had revenue of $142.82 million for the quarter, compared to the consensus estimate of $140.46 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. Analysts expect that Infinera Corp. will post $0.17 EPS for the current fiscal year.
Infinera Corporation (NASDAQ:INFN) provides optical networking equipment, software and services to communications service providers, Internet content providers, cable operators and subsea network operators (collectively, Service Providers) across the globe.
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