Infinera (NASDAQ:INFN) Stock Passes Above 200 Day Moving Average of $5.10

Infinera Co. (NASDAQ:INFN)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.10 and traded as high as $5.19. Infinera shares last traded at $5.18, with a volume of 1,525,752 shares traded.

Analyst Ratings Changes

A number of analysts have issued reports on INFN shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $7.00 price target on shares of Infinera in a report on Wednesday, May 15th. Morgan Stanley raised their price objective on shares of Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a report on Friday. B. Riley restated a “buy” rating and issued a $9.00 target price on shares of Infinera in a report on Wednesday, May 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Infinera in a research note on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.73.

Infinera Price Performance

The company has a 50-day moving average of $5.26 and a 200-day moving average of $5.11. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.97 and a current ratio of 1.65. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -17.91 and a beta of 1.58.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.07). Infinera had a negative return on equity of 27.68% and a negative net margin of 5.11%. The company had revenue of $306.92 million for the quarter, compared to analysts’ expectations of $337.73 million. As a group, equities research analysts predict that Infinera Co. will post -0.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Infinera by 9.3% during the 1st quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock worth $163,108,000 after purchasing an additional 2,299,025 shares during the period. Hood River Capital Management LLC raised its position in Infinera by 52.5% in the first quarter. Hood River Capital Management LLC now owns 4,162,231 shares of the communications equipment provider’s stock worth $25,098,000 after acquiring an additional 1,432,016 shares in the last quarter. Brown Advisory Inc. lifted its holdings in Infinera by 8.0% in the fourth quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock valued at $71,335,000 after acquiring an additional 1,108,567 shares during the period. AMH Equity Ltd purchased a new stake in shares of Infinera during the 1st quarter worth $1,990,000. Finally, Shapiro Capital Management LLC grew its stake in shares of Infinera by 1.5% during the 3rd quarter. Shapiro Capital Management LLC now owns 19,271,676 shares of the communications equipment provider’s stock worth $80,556,000 after purchasing an additional 293,787 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.