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Stock Traders Purchase High Volume of Put Options on Infinera (NASDAQ:INFN)

Tuesday, May 4, 2021 | MarketBeat

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.

In related news, Director Thomas J. Fallon sold 35,065 shares of the business's stock in a transaction that occurred on Friday, March 12th. The stock was sold at an average price of $9.82, for a total transaction of $344,338.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David F. Welch sold 419,378 shares of the company's stock in a transaction on Monday, March 15th. The stock was sold at an average price of $10.05, for a total value of $4,214,748.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 473,609 shares of company stock worth $4,751,901. Insiders own 2.82% of the company's stock.

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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