B. Riley Downgrades Infinera (NASDAQ:INFN) to Hold

B. Riley cut shares of Infinera (NASDAQ:INFN) from a strong-buy rating to a hold rating in a research note released on Wednesday,Zacks.com reports.

Several other research analysts have also issued reports on the company. Berenberg Bank upgraded Infinera to a “hold” rating in a research report on Monday, August 5th. Rosenblatt Securities restated a “neutral” rating and set a $6.65 price objective on shares of Infinera in a report on Wednesday. StockNews.com upgraded Infinera from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.09.

Infinera Stock Performance

INFN stock remained flat at $6.65 during mid-day trading on Wednesday. 784,164 shares of the company’s stock were exchanged, compared to its average volume of 1,073,420. The company has a 50 day simple moving average of $6.65 and a 200-day simple moving average of $5.98. The firm has a market cap of $1.57 billion, a PE ratio of -13.85 and a beta of 1.71. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.94. Infinera has a fifty-two week low of $3.61 and a fifty-two week high of $6.92.

Institutional Investors Weigh In On Infinera

Several large investors have recently modified their holdings of INFN. SageView Advisory Group LLC bought a new stake in Infinera during the first quarter valued at about $39,000. EverSource Wealth Advisors LLC bought a new stake in shares of Infinera in the 2nd quarter valued at about $104,000. Headlands Technologies LLC purchased a new position in shares of Infinera in the 2nd quarter worth approximately $112,000. Algert Global LLC bought a new position in shares of Infinera during the 2nd quarter worth approximately $128,000. Finally, Palumbo Wealth Management LLC lifted its position in Infinera by 8.4% during the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after acquiring an additional 1,850 shares during the last quarter. 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.