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

Research analysts at StockNews.com assumed coverage on shares of Infinera (NASDAQ:INFN) in a research note issued to investors on Friday. The firm set a “hold” rating on the communications equipment provider’s stock.

Infinera Stock Performance

NASDAQ INFN opened at $6.64 on Friday. The stock has a market capitalization of $1.57 billion, a P/E ratio of -13.83 and a beta of 1.63. The business has a 50 day simple moving average of $6.63 and a 200 day simple moving average of $6.64. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97. Infinera has a one year low of $4.49 and a one year high of $6.92.

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

Institutional Investors Weigh In On Infinera

Several hedge funds and other institutional investors have recently bought and sold shares of INFN. Vestcor Inc acquired a new stake in shares of Infinera in the 4th quarter valued at about $34,000. Quantbot Technologies LP acquired a new position in Infinera during the 3rd quarter worth approximately $40,000. LPL Financial LLC bought a new position in Infinera in the fourth quarter worth approximately $70,000. Wealthfront Advisers LLC acquired a new stake in Infinera in the fourth quarter valued at approximately $76,000. Finally, Cibc World Markets Corp bought a new stake in shares of Infinera during the fourth quarter valued at approximately $124,000. 97.54% of the stock is owned by 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.