Infinera Corporation (NASDAQ: INFN) stock fell -1.46% on Thursday to $4.72 against a previous-day closing price of $4.79. With 2.39 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.65 million shares. During the session, the Communication Equipment company that operates in wider Technology sector, reached to the highest price of $4.8950 whereas the lowest price it dropped to was $4.6950. The 52-week range on INFN shows that it touched its highest point at $7.80 and its lowest point at $4.26 during that stretch. It currently has a 1-year price target of $8.86. Beta for the stock currently stands at 1.45.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of INFN was down-trending over the past week, with a drop of -6.90%, but this was down by -23.87% over a month. Three-month performance dropped to -30.89% while six-month performance fell -26.13%. The stock lost -11.11% in the past year, while it has lost -29.97% so far this year. A look at the trailing 12-month EPS for INFN yields -0.20 with Next year EPS estimates of 0.46. For the next quarter, that number is -0.03. This implies an EPS growth rate of 57.30% for this year and 100.44% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 23.20%.
Float and Shares Shorts:
At present, 222.39 million INFN shares are outstanding with a float of 216.81 million shares on hand for trading. On May 14, 2023, short shares totaled 38.03 million, which was 16.85% higher than short shares on Apr 13, 2023. In addition to Mr. David W. Heard as the firm’s CEO & Director, Dr. David F. Welch Ph.D. serves as its Co-Founder, Chief Innovation Officer & Director.
Institutional Ownership:
Through their ownership of 102.14% of INFN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 67.94% of INFN, in contrast to 36.98% held by mutual funds. Shares owned by individuals account for 17.75%. As the largest shareholder in INFN with 15.00% of the stake, Fidelity Management & Research Co holds 33,399,123 shares worth 33,399,123. A second-largest stockholder of INFN, Oaktree Capital Management LP, holds 25,175,384 shares, controlling over 11.31% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in INFN, holding 20,058,785 shares or 9.01% stake. With a 4.73% stake in INFN, the Fidelity Growth Company Fund is the largest stakeholder. A total of 10,526,292 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.61% of INFN stock, is the second-largest Mutual Fund holder. It holds 5,818,747 shares valued at 36.83 million. Vanguard Small Cap Index Fund holds 2.20% of the stake in INFN, owning 4,907,465 shares worth 31.06 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 31, 2023, INFN reported revenue of $357.99M and operating income of -$38.58M. The EBITDA in the recently reported quarter was -$20.86M and diluted EPS was -$0.26.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for INFN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With INFN analysts setting a high price target of $15.00 and a low target of $5.00, the average target price over the next 12 months is $8.63. Based on these targets, INFN could surge 217.8% to reach the target high and rise by 5.93% to reach the target low. Reaching the average price target will result in a growth of 82.84% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded INFN stock several times over the past three months with 12 Buys and 12 Sells. In these transactions, 374,369 shares were bought while 182,553 shares were sold. The number of buy transactions has increased to 60 while that of sell transactions has risen to 53 over the past year. The total number of shares bought during that period was 1,084,268 while 506,137 shares were sold.
