Infinera Corporation (NASDAQ:INFN) has shown a rise of 2.4% or 296,734 shares in the short positions. The bets have increased to 12,632,738 shares on June 15,2016 from 12,336,004 shares on May 31,2016. With respect to the floated shares, the shorts are 9.1%. The days to cover are calculated to be 6, using the standard per day volume of 2,255,728 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Infinera Corporation (NASDAQ:INFN): The stock opened at $11.47 on Friday but the bulls could not build on the opening and the stock topped out at $11.63 for the day. The stock traded down to $10.95 during the day, due to lack of any buying support eventually closed down at $10.96 with a loss of -9.65% for the day. The stock had closed at $12.13 on the previous day. The total traded volume was 5,078,926 shares.
The company shares have dropped -47.83% from its 1 Year high price. On Aug 18, 2015, the shares registered one year high at $25.24 and the one year low was seen on Jun 24, 2016. The 50-Day Moving Average price is $12.47 and the 200 Day Moving Average price is recorded at $14.87.
Infinera Corporation (NASDAQ:INFN) has tumbled 9.79% during the past week and has dropped 16.97% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 8.3%. Infinera Corporation (NASDAQ:INFN) has underperformed the index by 14.46% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Infinera Corporation is engaged in optical transport networking systems. The Company provides optical transport networking equipment, software and services to Tier 1 and Tier 2 telecommunications service providers, Internet content providers (ICPs), cable operators, wholesale and enterprise carriers, research and education institutions and government entities around the world. The Companys technologies and platforms enable Service Providers to deliver bandwidth. The Company uses its large scale photonic integrated circuits (PICs) to deliver optical networking solutions for the network environments. Its product portfolio consists of the Infinera DTN-X and the Infinera DTN platforms targeted for long-haul and subsea networks and the Cloud Xpress and ATN platforms targeted for metro networks. It also provides software solutions to increase the efficiency and optimization of the network.