Infinera (NASDAQ:INFN) Stock Crosses Above 200-Day Moving Average of $5.10

Infinera Co. (NASDAQ:INFN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.10 and traded as high as $5.19. Infinera shares last traded at $5.18, with a volume of 1,525,752 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on INFN shares. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of Infinera in a research report on Thursday, May 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $7.00 target price on shares of Infinera in a research report on Wednesday, May 15th. Finally, B. Riley reiterated a “buy” rating and issued a $9.00 target price on shares of Infinera in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.32.

Infinera Trading Up 2.2 %

The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -15.24 and a beta of 1.58. The company’s 50-day moving average is $5.25 and its 200-day moving average is $5.10. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 4.08.

Infinera (NASDAQ:INFN) last announced its earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.07). The company had revenue of $306.92 million for the quarter, compared to analysts’ expectations of $337.73 million. Infinera had a negative return on equity of 27.68% and a negative net margin of 5.11%. Research analysts anticipate that Infinera Co. will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in INFN. Barclays PLC boosted its stake in shares of Infinera by 8.7% in the third quarter. Barclays PLC now owns 82,810 shares of the communications equipment provider’s stock valued at $346,000 after purchasing an additional 6,628 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Infinera by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,541,049 shares of the communications equipment provider’s stock worth $6,442,000 after acquiring an additional 69,024 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Infinera by 40.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 260,022 shares of the communications equipment provider’s stock worth $1,087,000 after acquiring an additional 74,742 shares during the last quarter. Nomura Holdings Inc. lifted its stake in Infinera by 36.5% in the third quarter. Nomura Holdings Inc. now owns 457,750 shares of the communications equipment provider’s stock worth $1,913,000 after acquiring an additional 122,500 shares during the last quarter. Finally, Shapiro Capital Management LLC lifted its stake in Infinera by 1.5% in the third quarter. Shapiro Capital Management LLC now owns 19,271,676 shares of the communications equipment provider’s stock worth $80,556,000 after acquiring an additional 293,787 shares during the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

About Infinera

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.