Infinera (NASDAQ:INFN) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Infinera Co. (NASDAQ:INFN)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.35 and traded as high as $6.61. Infinera shares last traded at $6.59, with a volume of 358,512 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on INFN shares. Rosenblatt Securities reiterated a “neutral” rating and issued a $6.65 price objective on shares of Infinera in a report on Wednesday, November 6th. StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, B. Riley cut shares of Infinera from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.09.

Infinera Stock Performance

The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -13.73 and a beta of 1.67. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97. The company’s 50-day moving average price is $6.63 and its two-hundred day moving average price is $6.35.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. The business had revenue of $354.40 million during the quarter, compared to the consensus estimate of $401.96 million. On average, equities research analysts anticipate that Infinera Co. will post -0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Infinera

A number of institutional investors and hedge funds have recently modified their holdings of INFN. Palumbo Wealth Management LLC lifted its position in shares of Infinera by 8.4% during the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after acquiring an additional 1,850 shares during the period. Arizona State Retirement System increased its stake in Infinera by 3.9% in the second quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock valued at $355,000 after purchasing an additional 2,180 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Infinera by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 102,869 shares of the communications equipment provider’s stock valued at $626,000 after purchasing an additional 4,266 shares during the period. Quantbot Technologies LP bought a new position in shares of Infinera during the 3rd quarter worth about $40,000. Finally, Tidal Investments LLC grew its stake in shares of Infinera by 4.9% in the 3rd quarter. Tidal Investments LLC now owns 128,883 shares of the communications equipment provider’s stock valued at $870,000 after buying an additional 6,066 shares during the period. 97.54% of the stock is currently owned by institutional investors.

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.