Infinera Co. (NASDAQ:INFN) saw unusually large options trading activity on Monday. Traders purchased 2,813 put options on the company. This represents an increase of 1,350% compared to the typical daily volume of 194 put options.
Shares of Infinera stock opened at $9.27 on Tuesday. The business has a fifty day simple moving average of $9.85 and a 200-day simple moving average of $9.21. Infinera has a fifty-two week low of $3.98 and a fifty-two week high of $11.51. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -6.44 and a beta of 1.28. The company has a quick ratio of 1.30, a current ratio of 1.85 and a debt-to-equity ratio of 1.48.
Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Monday, February 22nd. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.11. Infinera had a negative net margin of 19.00% and a negative return on equity of 27.33%. The company had revenue of $353.50 million during the quarter, compared to the consensus estimate of $356.79 million. During the same period in the prior year, the company earned $0.03 EPS. Infinera’s revenue was down 8.1% on a year-over-year basis. Analysts anticipate that Infinera will post -0.56 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. boosted its stake in shares of Infinera by 13.7% during the 3rd quarter. Sei Investments Co. now owns 468,208 shares of the communications equipment provider’s stock worth $2,891,000 after acquiring an additional 56,342 shares in the last quarter. Red Spruce Capital LLC purchased a new position in Infinera in the 4th quarter worth about $630,000. Baldwin Brothers Inc. MA acquired a new stake in Infinera during the 4th quarter worth about $58,000. Paradigm Capital Management Inc. NY boosted its holdings in shares of Infinera by 2.3% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,938,600 shares of the communications equipment provider’s stock worth $20,317,000 after buying an additional 43,800 shares during the period. Finally, Regal Wealth Group Inc. increased its position in shares of Infinera by 27.8% in the fourth quarter. Regal Wealth Group Inc. now owns 10,100 shares of the communications equipment provider’s stock worth $106,000 after acquiring an additional 2,200 shares in the last quarter. 91.39% of the stock is currently owned by institutional investors.
Several research firms have recently commented on INFN. B. Riley lowered their price target on shares of Infinera from $11.50 to $10.50 and set a “neutral” rating for the company in a research report on Wednesday, February 24th. Rosenblatt Securities raised their price target on shares of Infinera from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, February 10th. Finally, Zacks Investment Research upgraded Infinera from a “sell” rating to a “hold” rating in a research report on Wednesday, April 28th. Three analysts have rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $8.95.
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.
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