Infinera (NASDAQ:INFN) Shares Gap Up to $5.26

Shares of Infinera Co. (NASDAQ:INFN) gapped up before the market opened on Friday . The stock had previously closed at $5.26, but opened at $6.22. Infinera shares last traded at $6.25, with a volume of 6,443,231 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $7.00 price target on shares of Infinera in a research report on Wednesday, May 15th. B. Riley reaffirmed a “buy” rating and set a $9.00 target price on shares of Infinera in a report on Wednesday, May 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Infinera in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.32.

Infinera Stock Performance

The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 4.08. The stock has a 50 day simple moving average of $5.26 and a 200 day simple moving average of $5.11. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -18.35 and a beta of 1.58.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Tuesday, May 14th. The communications equipment provider reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.07). The company had revenue of $306.92 million for the quarter, compared to the consensus estimate of $337.73 million. Infinera had a negative return on equity of 27.68% and a negative net margin of 5.11%. As a group, analysts anticipate that Infinera Co. will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of Infinera

Several hedge funds have recently bought and sold shares of INFN. Verity Asset Management Inc. acquired a new stake in shares of Infinera in the first quarter valued at approximately $291,000. Price T Rowe Associates Inc. MD increased its position in Infinera by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 148,324 shares of the communications equipment provider’s stock valued at $895,000 after acquiring an additional 6,617 shares during the period. Hood River Capital Management LLC raised its stake in Infinera by 52.5% during the 1st quarter. Hood River Capital Management LLC now owns 4,162,231 shares of the communications equipment provider’s stock valued at $25,098,000 after acquiring an additional 1,432,016 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Infinera by 9.3% in the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock worth $163,108,000 after purchasing an additional 2,299,025 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in shares of Infinera by 8.7% during the first quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider’s stock valued at $286,000 after purchasing an additional 3,800 shares during the period. 97.54% of the stock is currently owned by 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.