Infinera (NASDAQ:INFN) Shares Down 3%

Infinera Co. (NASDAQ:INFN)’s share price traded down 3% on Tuesday . The company traded as low as $5.16 and last traded at $5.17. 597,912 shares traded hands during trading, a decline of 80% from the average session volume of 2,999,685 shares. The stock had previously closed at $5.33.

Analyst Ratings Changes

Several research firms have issued reports on INFN. StockNews.com cut shares of Infinera from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Needham & Company LLC reissued a “strong-buy” rating and issued a $10.00 price target on shares of Infinera in a report on Thursday, March 7th. Finally, B. Riley reaffirmed a “buy” rating and set a $7.50 target price on shares of Infinera in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Infinera has a consensus rating of “Moderate Buy” and an average price target of $6.85.

Infinera Stock Performance

The firm has a market cap of $1.40 billion, a P/E ratio of -194.67 and a beta of 1.56. The company has a current ratio of 1.69, a quick ratio of 0.95 and a debt-to-equity ratio of 3.63. The business’s fifty day simple moving average is $5.08 and its 200-day simple moving average is $4.43.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter. Infinera had a negative net margin of 0.28% and a positive return on equity of 1.73%. The business had revenue of $392.37 million for the quarter. As a group, sell-side analysts expect that Infinera Co. will post -0.06 earnings per share for the current year.

Institutional Investors Weigh In On Infinera

Several institutional investors and hedge funds have recently modified their holdings of the stock. Clear Street Markets LLC bought a new stake in Infinera during the first quarter worth about $39,000. Tower Research Capital LLC TRC lifted its stake in shares of Infinera by 85.4% in the first quarter. Tower Research Capital LLC TRC now owns 5,291 shares of the communications equipment provider’s stock worth $41,000 after buying an additional 2,437 shares in the last quarter. US Bancorp DE lifted its stake in shares of Infinera by 186.8% in the fourth quarter. US Bancorp DE now owns 9,681 shares of the communications equipment provider’s stock worth $46,000 after buying an additional 6,306 shares in the last quarter. Partners Capital Investment Group LLP bought a new position in shares of Infinera in the fourth quarter worth approximately $48,000. Finally, Stephens Inc. AR purchased a new position in shares of Infinera during the second quarter valued at approximately $49,000. 97.54% of the stock is owned by hedge funds and other 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.