Infinera (NASDAQ:INFN) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Infinera (NASDAQ:INFN) from a sell rating to a hold rating in a research report report published on Thursday.

Several other research firms have also recently issued reports on INFN. B. Riley decreased their price objective 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. Rosenblatt Securities restated a “neutral” rating and set a $6.65 target price on shares of Infinera in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. Finally, Berenberg Bank raised shares of Infinera to a “hold” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.09.

Infinera Stock Down 0.2 %

INFN stock traded down $0.01 during midday trading on Thursday, hitting $6.64. The company’s stock had a trading volume of 584,275 shares, compared to its average volume of 5,036,778. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02. Infinera has a 52-week low of $3.61 and a 52-week high of $6.92. The firm has a market capitalization of $1.57 billion, a P/E ratio of -14.46 and a beta of 1.71. The firm has a 50-day simple moving average of $6.64 and a 200-day simple moving average of $5.97.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. SageView Advisory Group LLC purchased a new position in shares of Infinera in the 1st quarter valued at about $39,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Infinera during the 2nd quarter valued at approximately $104,000. Headlands Technologies LLC purchased a new stake in shares of Infinera during the 2nd quarter worth approximately $112,000. Algert Global LLC acquired a new stake in shares of Infinera in the 2nd quarter worth approximately $128,000. Finally, Palumbo Wealth Management LLC increased its stake in Infinera by 8.4% in the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after purchasing an additional 1,850 shares in the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.

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.