StockNews.com Begins Coverage on Infinera (NASDAQ:INFN)

StockNews.com assumed coverage on shares of Infinera (NASDAQ:INFN) in a research report sent to investors on Monday morning. The firm issued a sell rating on the communications equipment provider’s stock.

A number of other equities analysts also recently commented on INFN. Berenberg Bank upgraded shares of Infinera to a hold rating in a research note on Monday, August 5th. Craig Hallum reiterated a hold rating and set a $6.65 price objective (down previously from $12.00) on shares of Infinera in a research note on Monday, July 1st. Morgan Stanley raised their target price on shares of Infinera from $5.40 to $6.65 and gave the company an equal weight rating in a research note on Friday, June 28th. JPMorgan Chase & Co. upped 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. Finally, Stifel Nicolaus reissued a buy rating and issued a $7.00 price objective on shares of Infinera in a research report on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Infinera presently has an average rating of Hold and an average price target of $7.09.

Infinera Stock Down 0.7 %

INFN stock opened at $6.05 on Monday. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.65 and a quick ratio of 0.97. The stock has a market capitalization of $1.42 billion, a P/E ratio of -17.79 and a beta of 1.64. Infinera has a fifty-two week low of $2.82 and a fifty-two week high of $6.62. The business has a 50-day moving average of $5.89 and a 200-day moving average of $5.45.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $342.70 million during the quarter, compared to the consensus estimate of $331.71 million. Infinera had a negative return on equity of 27.68% and a negative net margin of 5.11%. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, sell-side analysts anticipate that Infinera will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. AIGH Capital Management LLC grew its position in shares of Infinera by 278.8% in the second quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider’s stock valued at $20,515,000 after purchasing an additional 2,479,272 shares during the last quarter. Vanguard Group Inc. grew its holdings in Infinera by 9.3% in the 1st quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock valued at $163,108,000 after buying an additional 2,299,025 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Infinera by 22.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock worth $67,343,000 after buying an additional 2,025,658 shares during the period. Water Island Capital LLC acquired a new stake in shares of Infinera during the second quarter worth $9,196,000. Finally, Hood River Capital Management LLC boosted its position in shares of Infinera by 52.5% in the first 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 during the period. 97.54% of the stock is 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.