Infinera (NASDAQ:INFN) Shares Gap Up to $5.01

Infinera Co. (NASDAQ:INFN) shares gapped up before the market opened on Tuesday . The stock had previously closed at $5.01, but opened at $5.36. Infinera shares last traded at $5.72, with a volume of 514,885 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Infinera from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Stifel Nicolaus reiterated a “buy” rating and issued a $7.00 price target on shares of Infinera in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $10.00 price objective on shares of Infinera in a research note on Thursday. Finally, B. Riley reiterated a “buy” rating and set a $9.00 target price on shares of Infinera in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.32.

Infinera Trading Down 7.8 %

The stock has a market capitalization of $1.24 billion, a PE ratio of -48.63 and a beta of 1.63. The stock’s 50 day moving average price is $5.15 and its 200-day moving average price is $4.79. The company has a quick ratio of 0.95, a current ratio of 1.69 and a debt-to-equity ratio of 3.63.

Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $392.37 million during the quarter. Infinera had a positive return on equity of 1.73% and a negative net margin of 0.28%.

Hedge Funds Weigh In On Infinera

Several hedge funds have recently modified their holdings of the stock. Jupiter Asset Management Ltd. raised its stake in 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 purchasing an additional 195,786 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Infinera by 1.3% in the 3rd 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 grew its position in Infinera by 0.6% in the third quarter. FMR LLC now owns 34,038,565 shares of the communications equipment provider’s stock worth $142,281,000 after acquiring an additional 196,237 shares in the last quarter. Nomura Holdings Inc. increased its stake in Infinera by 36.5% during the third quarter. Nomura Holdings Inc. now owns 457,750 shares of the communications equipment provider’s stock worth $1,913,000 after acquiring an additional 122,500 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Infinera in the 3rd quarter valued at approximately $915,000. 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.