Infinera (NASDAQ:INFN) Sees Unusually-High Trading Volume

Infinera Co. (NASDAQ:INFN) shares saw unusually-strong trading volume on Monday . Approximately 2,567,948 shares changed hands during trading, a decline of 47% from the previous session’s volume of 4,862,120 shares.The stock last traded at $6.71 and had previously closed at $6.70.

Analyst Upgrades and Downgrades

INFN has been the topic of several research analyst reports. Rosenblatt Securities cut shares of Infinera from a “buy” rating to a “neutral” rating and lowered their price target for the company from $8.00 to $6.65 in a report on Monday, August 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Infinera in a research report on Friday, June 28th. B. Riley cut their price objective on shares of Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a research report on Monday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Finally, Berenberg Bank raised Infinera to a “hold” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Infinera has a consensus rating of “Hold” and a consensus target price of $7.09.

Infinera Price Performance

The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02. The company’s 50-day moving average is $6.10 and its 200-day moving average is $5.61. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -19.82 and a beta of 1.71.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. The business had revenue of $342.70 million for the quarter, compared to analyst estimates of $331.71 million. The business’s quarterly revenue was down 8.9% on a year-over-year basis. Equities research analysts expect that Infinera Co. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infinera

Several large investors have recently made changes to their positions in the company. Arizona State Retirement System raised its position in shares of Infinera by 3.9% during the 2nd quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock valued at $355,000 after acquiring an additional 2,180 shares during the last quarter. Graypoint LLC boosted its stake in Infinera by 8.7% in the 1st quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock worth $184,000 after purchasing an additional 2,438 shares during the period. ProShare Advisors LLC boosted its stake in Infinera by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider’s stock worth $216,000 after purchasing an additional 2,821 shares during the period. Principal Financial Group Inc. increased its holdings in Infinera by 16.2% during the 1st quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock worth $162,000 after purchasing an additional 3,725 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Infinera by 8.7% in the 1st quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider’s stock valued at $286,000 after purchasing an additional 3,800 shares during the period. Institutional investors and hedge funds own 97.54% of the company’s stock.

Infinera Company Profile

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.