Infinera (NASDAQ:INFN) Research Coverage Started at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Infinera (NASDAQ:INFN) in a report released on Saturday. The firm set a “sell” rating on the communications equipment provider’s stock.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC restated a “hold” rating on shares of Infinera in a research report on Friday, June 28th. Rosenblatt Securities downgraded Infinera from a “buy” rating to a “neutral” rating and cut their price target for the company from $8.00 to $6.65 in a research note on Monday, August 5th. Berenberg Bank upgraded shares of Infinera to a “hold” rating in a research note on Monday, August 5th. B. Riley cut their target price on shares of Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. increased their price target 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Infinera presently has a consensus rating of “Hold” and an average price target of $7.09.

Infinera Stock Performance

NASDAQ:INFN opened at $6.75 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02. Infinera has a twelve month low of $2.82 and a twelve month high of $6.92. The stock has a market cap of $1.58 billion, a P/E ratio of -19.85 and a beta of 1.71. The firm’s fifty day simple moving average is $6.24 and its 200 day simple moving average is $5.73.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The business had revenue of $342.70 million for the quarter, compared to analyst estimates of $331.71 million. The company’s revenue was down 8.9% compared to the same quarter last year. As a group, research analysts predict that Infinera will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Infinera

Large investors have recently made changes to their positions in the stock. SageView Advisory Group LLC acquired a new stake in Infinera during the first quarter worth about $39,000. EverSource Wealth Advisors LLC purchased a new position in Infinera during the second quarter valued at $104,000. Headlands Technologies LLC acquired a new stake in shares of Infinera in the second quarter valued at about $112,000. Algert Global LLC purchased a new stake in shares of Infinera during the second quarter worth about $128,000. Finally, Principal Financial Group Inc. raised its position in shares of 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 during the last quarter. 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.