Infinera Corporation (NASDAQ:INFN) was the target of a significant increase in short interest in August. As of August 15th, there was short interest totalling 21,575,903 shares, an increase of 9.9% from the July 31st total of 19,628,396 shares. Approximately 15.1% of the shares of the company are short sold. Based on an average daily volume of 3,170,000 shares, the days-to-cover ratio is currently 6.8 days.

INFN has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Infinera Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. ValuEngine upgraded shares of Infinera Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Wells Fargo & Company upgraded shares of Infinera Corporation from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $10.00 to $13.00 in a research note on Friday, May 26th. Northland Securities set a $7.00 price objective on shares of Infinera Corporation and gave the company a “hold” rating in a research note on Tuesday, July 4th. Finally, BidaskClub upgraded shares of Infinera Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 15th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Infinera Corporation currently has a consensus rating of “Hold” and a consensus price target of $11.82.

Shares of Infinera Corporation (NASDAQ INFN) opened at 8.70 on Tuesday. Infinera Corporation has a 12 month low of $7.23 and a 12 month high of $12.50. The firm has a 50-day moving average of $10.32 and a 200 day moving average of $10.41. The company’s market capitalization is $1.29 billion.

Infinera Corporation (NASDAQ:INFN) last announced its earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.23) by $0.01. Infinera Corporation had a negative net margin of 18.18% and a negative return on equity of 12.39%. The business had revenue of $176.28 million for the quarter, compared to the consensus estimate of $181.16 million. During the same quarter in the previous year, the company earned $0.21 EPS. The firm’s revenue for the quarter was down 31.9% on a year-over-year basis. On average, equities research analysts expect that Infinera Corporation will post ($0.56) earnings per share for the current fiscal year.

In related news, President David F. Welch sold 5,000 shares of Infinera Corporation stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President David F. Welch sold 40,000 shares of Infinera Corporation stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $12.09, for a total transaction of $483,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,000 shares of company stock worth $729,400. Company insiders own 2.90% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. US Bancorp DE raised its stake in shares of Infinera Corporation by 13.7% in the second quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock valued at $105,000 after buying an additional 1,186 shares during the last quarter. Fred Alger Management Inc. acquired a new stake in shares of Infinera Corporation during the second quarter valued at approximately $107,000. Bbva Compass Bancshares Inc. acquired a new stake in shares of Infinera Corporation during the first quarter valued at approximately $103,000. AlphaOne Investment Services LLC acquired a new stake in shares of Infinera Corporation during the second quarter valued at approximately $108,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Infinera Corporation during the second quarter valued at approximately $109,000. Institutional investors own 86.70% of the company’s stock.

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Infinera Corporation Company Profile

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

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