Infinera Co. (NASDAQ:INFN) Given Consensus Rating of “Hold” by Brokerages

Shares of Infinera Co. (NASDAQ:INFN) have received an average rating of “Hold” from the eight research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $7.09.

Several research firms have recently issued reports on INFN. B. Riley downgraded shares of Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Rosenblatt Securities restated a “neutral” rating and set a $6.65 price target on shares of Infinera in a research note on Wednesday, November 6th. Finally, StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a report on Thursday, November 7th.

Infinera Price Performance

Shares of INFN opened at $6.59 on Tuesday. The company has a 50 day moving average of $6.60 and a two-hundred day moving average of $6.44. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. Infinera has a twelve month low of $4.41 and a twelve month high of $6.92. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -13.73 and a beta of 1.64.

Infinera (NASDAQ:INFN) last announced its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. The business had revenue of $354.40 million for the quarter, compared to analysts’ expectations of $401.96 million. As a group, analysts predict that Infinera will post -0.33 earnings per share for the current fiscal year.

Institutional Trading of Infinera

Large investors have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new position in shares of Infinera during the third quarter worth $40,000. EverSource Wealth Advisors LLC acquired a new position in shares of Infinera in the 2nd quarter valued at about $104,000. Headlands Technologies LLC purchased a new stake in shares of Infinera in the second quarter worth about $112,000. Algert Global LLC acquired a new stake in Infinera during the second quarter worth about $128,000. Finally, Palumbo Wealth Management LLC grew its holdings 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 worth $162,000 after acquiring an additional 1,850 shares during the period. 97.54% of the stock is owned by hedge funds and other 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.