In the latest trading session,, 0.6 million Infinera Corp. (NASDAQ:INFN) shares changed hands as the company’s beta touched 1.56. With the company’s most recent per share price at $5.16 changed hands at -$0.17 or -3.10% at last look, the market valuation stands at $1.20B. INFN’s current price is a discount, trading about -51.16% off its 52-week high of $7.80. The share price had its 52-week low at $2.82, which suggests the last value was 45.35% up since then. When we look at Infinera Corp.’s average trading volume, we note the 10-day average is 3.43 million shares, with the 3-month average coming to 2.95 million.
Infinera Corp. (NASDAQ:INFN) trade information
Instantly INFN was in red as seen in intraday trades today. With action 2.68%, the performance over the past five days has been green. The drop to weekly highs of 5.57 subtracted -3.10% to the stock’s daily price. The company’s shares are showing year-to-date upside of 8.74%, with the 5-day performance at 2.68% in the green. However, in the 30-day time frame, Infinera Corp. (NASDAQ:INFN) is -0.29% down. Looking at the short shares, we see there were 44.48 million shares sold at short interest cover period of 20.25 days.
Infinera Corp. (INFN) estimates and forecasts
Data shows that the Infinera Corp. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 25.98% over the past 6 months, a 58.33% in annual growth rate that is considerably higher than the industry average of 12.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Infinera Corp. will fall -37.50%, while the growth in revenue is estimated to hit -533.30% for the next quarter. Year-over-year growth is forecast to reach 1.90% up from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $443.63 million. 9 analysts are of the opinion that Infinera Corp.’s revenue for the quarter ending Mar 2024 will be $336.99 million. The company’s revenue for the corresponding quarters a year ago was $485.94 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -8.70%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 23.26%. The 2024 estimates are for Infinera Corp. earnings to increase by 14.83%, but the outlook for the next 5-year period is at 20.00% per year.
INFN Dividends
Infinera Corp. is expected to release its next quarterly earnings report between May 01 and May 06.
Infinera Corp. (NASDAQ:INFN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.55% of Infinera Corp. shares while 101.03% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 102.62%. There are 101.03% institutions holding the Infinera Corp. stock share, with FMR, LLC the top institutional holder. As of Dec 30, 2023, the company held 14.71% of the shares, roughly 34.04 million INFN shares worth $175.13 million.
Oaktree Capital Management Lp holds the second largest percentage of outstanding shares, with 10.88% or 25.18 million shares worth $129.53 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Jan 30, 2024 were Fidelity Growth Company Fund and Vanguard Total Stock Market Index Fund. With 10.48 million shares estimated at $53.9 million under it, the former controlled 4.53% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.52% of the shares, roughly 5.83 million shares worth around $30.0 million.
