Uncovering Institutional Buying In Infinera Corp. (NASDAQ: INFN)

Currently, there are 231.42M common shares owned by the public and among those 228.74M shares have been available to trade.

The company’s stock has a 5-day price change of 19.93% and 35.14% over the past three months. INFN shares are trading 36.84% year to date (YTD), with the 12-month market performance down to -14.47% lower. It has a 12-month low price of $2.82 and touched a high of $7.80 over the same period. INFN has an average intraday trading volume of 3.17 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 28.43%, 27.38%, and 46.48% respectively.

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Institutional ownership of Infinera Corp. (NASDAQ: INFN) shares accounts for 97.95% of the company’s 231.42M shares outstanding.

It has a market capitalization of $1.50B and a beta (3y monthly) value of 1.58. The earnings-per-share (ttm) stands at -$0.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.46% over the week and 7.45% over the month.

Analysts forecast that Infinera Corp. (INFN) will achieve an EPS of $0.1 for the current quarter, -$0.13 for the next quarter and $0.23 for 2024. The lowest estimate earnings-per-share for the quarter is $0.08 while analysts give the company a high EPS estimate of $0.11. Comparatively, EPS for the current quarter was $0.16 a year ago. Earnings per share for the fiscal year are expected to increase by 14.56%, and 131.84% over the next financial year. EPS should shrink at an annualized rate of 20.00% over the next five years, compared to 23.26% over the past 5-year period.

Looking at the support for the INFN, a number of firms have released research notes about the stock. Stifel stated their Buy rating for the stock in a research note on September 28, 2023, with the firm’s price target at $7. MKM Partners was of a view on August 04, 2022 that the stock is Buy, while Rosenblatt gave the stock Buy rating on March 24, 2022, issuing a price target of $12. Loop Capital on their part issued Hold rating on February 14, 2022.

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