Infinera (NASDAQ:INFN) Trading Up 4.4%

Infinera Co. (NASDAQ:INFN) shares were up 4.4% during trading on Tuesday . The stock traded as high as $4.75 and last traded at $4.74. Approximately 2,103,757 shares were traded during trading, a decline of 39% from the average daily volume of 3,444,037 shares. The stock had previously closed at $4.54.

Analysts Set New Price Targets

Several research analysts have recently commented on INFN shares. B. Riley reaffirmed a “buy” rating and set a $7.50 target price on shares of Infinera in a report on Thursday, March 7th. Stifel Nicolaus reiterated a “buy” rating and set a $7.00 price target on shares of Infinera in a research report on Monday, April 1st. Needham & Company LLC reiterated a “strong-buy” rating and set a $10.00 price target on shares of Infinera in a research report on Thursday, March 7th. Finally, StockNews.com lowered shares of Infinera from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $6.85.

Infinera Price Performance

The company has a debt-to-equity ratio of 3.63, a current ratio of 1.69 and a quick ratio of 0.95. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -151.33 and a beta of 1.58. The business’s 50-day simple moving average is $5.21 and its two-hundred day simple moving average is $4.57.

Infinera (NASDAQ:INFN) last issued its earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 earnings per share for the quarter. Infinera had a negative net margin of 0.28% and a positive return on equity of 1.73%. The firm had revenue of $392.37 million for the quarter. Research analysts expect that Infinera Co. will post -0.06 earnings per share for the current year.

Institutional Trading of Infinera

A number of hedge funds have recently added to or reduced their stakes in the stock. Jupiter Asset Management Ltd. raised its stake in shares of Infinera by 721.3% during the third quarter. Jupiter Asset Management Ltd. now owns 222,928 shares of the communications equipment provider’s stock valued at $932,000 after acquiring an additional 195,786 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Infinera by 1.3% during the third quarter. Vanguard Group Inc. now owns 24,281,031 shares of the communications equipment provider’s stock valued at $101,495,000 after acquiring an additional 314,856 shares during the last quarter. FMR LLC raised its stake in shares of Infinera by 0.6% during the third quarter. FMR LLC now owns 34,038,565 shares of the communications equipment provider’s stock valued at $142,281,000 after acquiring an additional 196,237 shares during the last quarter. Nomura Holdings Inc. raised its stake in shares of Infinera by 36.5% during the third quarter. Nomura Holdings Inc. now owns 457,750 shares of the communications equipment provider’s stock valued at $1,913,000 after acquiring an additional 122,500 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Infinera during the third quarter valued at $915,000. Institutional investors and hedge funds 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.