Infinera (NASDAQ:INFN) Reaches New 1-Year High at $6.62

Infinera Co. (NASDAQ:INFN)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $6.62 and last traded at $6.62, with a volume of 37160 shares trading hands. The stock had previously closed at $6.46.

Analyst Ratings Changes

Several research firms recently issued reports on INFN. JPMorgan Chase & Co. raised their target price on Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. Berenberg Bank raised Infinera to a “hold” rating in a research note on Monday, August 5th. Rosenblatt Securities lowered Infinera from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $6.65 in a research note on Monday, August 5th. Morgan Stanley boosted their price objective on shares of Infinera from $5.40 to $6.65 and gave the company an “equal weight” rating in a research report on Friday, June 28th. Finally, StockNews.com assumed coverage on shares of Infinera in a research report on Wednesday, September 11th. They issued a “sell” rating for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.09.

Infinera Trading Down 0.6 %

The company has a current ratio of 1.57, a quick ratio of 0.94 and a debt-to-equity ratio of 5.02. The stock’s fifty day moving average price is $6.05 and its 200 day moving average price is $5.57. The stock has a market cap of $1.56 billion, a P/E ratio of -19.59 and a beta of 1.71.

Infinera (NASDAQ:INFN) last announced its quarterly earnings data 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. 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 analysts’ expectations of $331.71 million. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities research analysts expect that Infinera Co. will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. SageView Advisory Group LLC bought a new position in shares of Infinera during the first quarter valued at $39,000. Partners Capital Investment Group LLP bought a new stake in Infinera during the 4th quarter valued at about $48,000. RPO LLC purchased a new position in Infinera in the fourth quarter worth about $82,000. EverSource Wealth Advisors LLC bought a new position in shares of Infinera in the second quarter worth approximately $104,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Infinera during the second quarter valued at approximately $112,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

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.