Infinera Corp. (NASDAQ:INFN) has a beta value of 1.57 and has seen 3.06 million shares traded in the last trading session. The company, currently valued at $1.09B, closed the last trade at $4.71 per share which meant it gained $0.18 on the day or 3.97% during that session. The INFN stock price is -65.61% off its 52-week high price of $7.80 and 40.13% above the 52-week low of $2.82. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.1 million shares traded. The 3-month trading volume is 2.77 million shares.
Infinera Corp. (NASDAQ:INFN) trade information
Sporting 3.97% in the green in last session, the stock has traded in the green over the last five days, when the INFN stock price touched $4.71 or saw a rise of 1.26%. Year-to-date, Infinera Corp. shares have moved -0.84%, while the 5-day performance has seen it change 4.43%. Over the past 30 days, the shares of Infinera Corp. (NASDAQ:INFN) have changed -9.60%. Short interest in the company has seen 44.48 million shares shorted with days to cover at 20.25.
Infinera Corp. (INFN) estimates and forecasts
Figures show that Infinera Corp. shares have outperformed across the wider relevant industry. The company’s shares have gained 10.30% over the past 6 months, with this year growth rate of 58.33%, compared to 11.00% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are -37.50% and -533.30% for the next quarter. Revenue growth from the last financial year stood is estimated to be 1.90%.
8 analysts offering their estimates for the company have set an average revenue estimate of $443.63 million for the current quarter. 9 have an estimated revenue figure of $336.99 million for the next quarter concluding in Mar 2024.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 23.26% over the past 5 years. Earnings growth for 2024 is a modest 14.50% while over the next 5 years, the company’s earnings are expected to increase by 20.00%.
INFN Dividends
Infinera Corp. is expected to release its next earnings report between May 01 and May 06 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Infinera Corp. (NASDAQ:INFN)’s Major holders
Insiders own 1.55% of the company shares, while shares held by institutions stand at 100.86% with a share float percentage of 102.44%. Investors are also buoyed by the number of investors in a company, with Infinera Corp. having a total of 268 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 33.84 million shares worth more than $163.46 million. As of Jun 29, 2023, FMR, LLC held 14.91% of shares outstanding.
The other major institutional holder is Oaktree Capital Management Lp, with the holding of over 25.18 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $121.6 million and represent 11.09% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Fidelity Growth Company Fund and Vanguard Total Stock Market Index Fund. As of Aug 30, 2023, the former fund manager holds about 4.67% shares in the company for having 10.61 million shares of worth $49.64 million while later fund manager owns 5.83 million shares of worth $28.16 million as of Jun 29, 2023, which makes it owner of about 2.57% of company’s outstanding stock.
