Infinera (NASDAQ:INFN) issued an update on its second quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of – for the period. The company issued revenue guidance of $335 million-$355 million, compared to the consensus revenue estimate of $343.18 million.
Several analysts recently issued reports on INFN shares. Rosenblatt Securities increased their price target on Infinera from $9.00 to $12.00 and gave the company a buy rating in a report on Wednesday, February 10th. B. Riley dropped their target price on Infinera from $11.50 to $10.50 and set a neutral rating on the stock in a report on Wednesday, February 24th. Finally, Zacks Investment Research upgraded Infinera from a sell rating to a hold rating in a report on Wednesday, April 28th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $8.95.
INFN traded down $0.48 during trading on Tuesday, hitting $8.79. The company had a trading volume of 2,608,941 shares, compared to its average volume of 2,536,098. Infinera has a 1-year low of $3.98 and a 1-year high of $11.51. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.85 and a quick ratio of 1.30. The company has a market cap of $1.80 billion, a PE ratio of -6.10 and a beta of 1.28. The business has a 50-day moving average of $9.84 and a 200-day moving average of $9.23.
In other news, Director Thomas J. Fallon sold 35,065 shares of Infinera stock in a transaction dated Friday, March 12th. The shares were sold at an average price of $9.82, for a total value of $344,338.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nicholas Walden sold 9,650 shares of the business’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $9.94, for a total transaction of $95,921.00. In the last quarter, insiders sold 473,609 shares of company stock valued at $4,751,901. Insiders own 2.82% of the company’s stock.
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.
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