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

Infinera Co. (NASDAQ:INFN) saw unusually-strong trading volume on Tuesday . Approximately 5,463,324 shares traded hands during trading, an increase of 19% from the previous session’s volume of 4,586,373 shares.The stock last traded at $6.68 and had previously closed at $6.70.

Analyst Upgrades and Downgrades

INFN has been the topic of several recent research reports. B. Riley lowered their price objective on 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. lifted their price objective on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Berenberg Bank upgraded Infinera to a “hold” rating in a research report on Monday, August 5th. Rosenblatt Securities cut Infinera from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $8.00 to $6.65 in a report on Monday, August 5th. Finally, Morgan Stanley raised their price objective on Infinera from $5.40 to $6.65 and gave the company an “equal weight” rating in a report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Infinera has a consensus rating of “Hold” and a consensus target price of $7.09.

Infinera Stock 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 stock has a 50-day moving average of $6.08 and a 200 day moving average of $5.59. The stock has a market cap of $1.57 billion, a PE ratio of -19.59 and a beta of 1.71.

Infinera (NASDAQ:INFN) last released 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. The firm had revenue of $342.70 million for the quarter, compared to analyst estimates of $331.71 million. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The business’s revenue was down 8.9% on a year-over-year basis. Equities analysts predict that Infinera Co. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Infinera

Institutional investors and hedge funds have recently made changes to their positions in the stock. SageView Advisory Group LLC purchased a new position in shares of Infinera in the first quarter valued at approximately $39,000. Partners Capital Investment Group LLP acquired a new stake in shares of Infinera in the fourth quarter valued at $48,000. RPO LLC purchased a new position in Infinera in the fourth quarter valued at $82,000. EverSource Wealth Advisors LLC acquired a new position in Infinera during the 2nd quarter worth $104,000. Finally, Headlands Technologies LLC purchased a new stake in Infinera during the 2nd quarter worth about $112,000. 97.54% of the stock is owned by hedge funds and other institutional investors.

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.