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Infinera Corp. (NASDAQ:INFN) shares gapped up prior to trading on Wednesday . The stock had previously closed at $3.89, but opened at $3.75. Infinera shares last traded at $3.71, with a volume of 81,851 shares trading hands.
Several equities analysts have recently weighed in on INFN shares. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. raised shares of ROYAL MAIL PLC/ADR from an “underweight” rating to a “neutral” rating in a research report on Monday, June 3rd. Northland Securities reaffirmed a “buy” rating and set a $55.00 price target on shares of Heron Therapeutics in a research report on Thursday, May 9th. BidaskClub lowered shares of Westport Fuel Systems from a “buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, B. Riley raised shares of Adamis Pharmaceuticals from a “sell” rating to a “neutral” rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $6.35.
The firm has a market capitalization of $663.12 million, a price-to-earnings ratio of -5.83 and a beta of 0.77. The stock has a 50-day moving average price of $3.08. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.78 and a quick ratio of 1.10.
Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Wednesday, May 8th. The communications equipment provider reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. The firm had revenue of $295.60 million for the quarter, compared to the consensus estimate of $311.11 million. Infinera had a negative net margin of 29.68% and a negative return on equity of 20.02%. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. On average, analysts forecast that Infinera Corp. will post -0.9 EPS for the current fiscal year.
In other news, COO David W. Heard acquired 25,000 shares of Infinera stock in a transaction on Friday, May 24th. The shares were purchased at an average cost of $3.13 per share, for a total transaction of $78,250.00. Following the completion of the purchase, the chief operating officer now directly owns 80,816 shares of the company’s stock, valued at approximately $252,954.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Thomas J. Fallon acquired 50,000 shares of Infinera stock in a transaction on Wednesday, May 15th. The shares were purchased at an average price of $3.32 per share, for a total transaction of $166,000.00. The disclosure for this purchase can be found here. Insiders have acquired 175,000 shares of company stock worth $559,250 over the last quarter. Corporate insiders own 2.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. FMR LLC grew its stake in Infinera by 0.6% during the first quarter. FMR LLC now owns 26,354,780 shares of the communications equipment provider’s stock worth $114,380,000 after buying an additional 150,000 shares in the last quarter. Cooper Creek Partners Management LLC acquired a new stake in Infinera during the first quarter worth about $2,736,000. Meitav Dash Investments Ltd. acquired a new stake in shares of Infinera in the 1st quarter valued at approximately $172,000. Paradigm Capital Management Inc. NY acquired a new stake in shares of Infinera in the 1st quarter valued at approximately $3,578,000. Finally, Royce & Associates LP acquired a new stake in shares of Infinera in the 1st quarter valued at approximately $87,000. Hedge funds and other institutional investors own 86.32% of the company’s stock.
Infinera Company Profile (NASDAQ:INFN)
Infinera Corporation provides optical transport networking equipment and software and services worldwide. The company’s product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.
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