Infinera (NASDAQ:INFN) Sees Strong Trading Volume

Shares of Infinera Co. (NASDAQ:INFN) saw unusually-high trading volume on Tuesday . Approximately 5,463,324 shares traded hands during mid-day trading, an increase of 19% from the previous session’s volume of 4,586,373 shares.The stock last traded at $6.68 and had previously closed at $6.70.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on INFN shares. StockNews.com started coverage on Infinera in a report on Wednesday, September 11th. They set a “sell” rating on the stock. B. Riley decreased their price target on shares of Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a research report on Monday, August 5th. Berenberg Bank raised shares of Infinera to a “hold” rating in a research note on Monday, August 5th. Rosenblatt Securities cut shares of Infinera from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $8.00 to $6.65 in a research note on Monday, August 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Infinera in a research report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.09.

Infinera Price Performance

The firm has a market cap of $1.56 billion, a P/E ratio of -19.59 and a beta of 1.71. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02. The business’s 50 day moving average is $6.05 and its two-hundred day moving average is $5.57.

Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. The firm had revenue of $342.70 million during the quarter, compared to the consensus estimate of $331.71 million. The firm’s revenue was down 8.9% on a year-over-year basis. As a group, analysts anticipate that Infinera Co. will post -0.17 earnings per share for the current year.

Institutional Trading of Infinera

Several hedge funds have recently modified their holdings of INFN. Victory Capital Management Inc. boosted its holdings in shares of Infinera by 23.2% in the 4th quarter. Victory Capital Management Inc. now owns 30,100 shares of the communications equipment provider’s stock worth $143,000 after buying an additional 5,661 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Infinera by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,576,725 shares of the communications equipment provider’s stock worth $7,489,000 after buying an additional 35,676 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Infinera by 1.2% in the fourth quarter. BNP Paribas Financial Markets now owns 641,719 shares of the communications equipment provider’s stock valued at $3,048,000 after acquiring an additional 7,370 shares during the last quarter. Aigen Investment Management LP lifted its position in Infinera by 138.1% in the 4th quarter. Aigen Investment Management LP now owns 64,881 shares of the communications equipment provider’s stock worth $308,000 after buying an additional 37,634 shares during the last quarter. Finally, Worth Venture Partners LLC bought a new stake in shares of Infinera in the 4th quarter worth approximately $53,000. 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.