Infinera Corp. (NASDAQ:INFN) dropped 11.2% during trading on Wednesday . The company traded as low as $6.93 and last traded at $7.00, approximately 7,991,758 shares were traded during trading. An increase of 300% from the average daily volume of 1,995,936 shares. The stock had previously closed at $7.88.
INFN has been the topic of a number of research reports. Rosenblatt Securities raised their target price on shares of Infinera from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday. ValuEngine downgraded shares of Infinera from a “sell” rating to a “strong sell” rating in a research report on Friday, November 8th. Piper Sandler raised their target price on shares of Infinera to and gave the company a “neutral” rating in a research report on Wednesday. Zacks Investment Research downgraded shares of Infinera from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Finally, B. Riley reissued a “buy” rating and set a $8.40 target price on shares of Infinera in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $8.30.
The firm has a market capitalization of $1.27 billion, a P/E ratio of -2.75 and a beta of 0.77. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.89 and a current ratio of 1.47. The business’s fifty day moving average price is $7.89 and its two-hundred day moving average price is $6.40.
Large investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in shares of Infinera in the 3rd quarter valued at about $56,000. Millennium Management LLC bought a new stake in shares of Infinera in the 3rd quarter valued at about $55,000. Great West Life Assurance Co. Can bought a new stake in shares of Infinera in the 4th quarter valued at about $86,000. Aigen Investment Management LP bought a new stake in shares of Infinera in the 4th quarter valued at about $97,000. Finally, Virtu Financial LLC bought a new stake in shares of Infinera in the 4th quarter valued at about $99,000. Institutional investors and hedge funds own 88.54% of the company’s stock.
Infinera Company Profile (NASDAQ:INFN)
Infinera Corporation provides optical transport networking equipment and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.
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