B. Riley Downgrades Infinera (NASDAQ:INFN) to Hold

Infinera (NASDAQ:INFN) was downgraded by research analysts at B. Riley from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other research analysts have also commented on the company. StockNews.com raised Infinera from a “sell” rating to a “hold” rating in a research report on Thursday. Rosenblatt Securities reiterated a “neutral” rating and set a $6.65 price objective on shares of Infinera in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. Finally, Berenberg Bank raised Infinera to a “hold” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.09.

Infinera Stock Performance

Infinera stock remained flat at $6.65 during trading hours on Wednesday. 784,164 shares of the company’s stock traded hands, compared to its average volume of 1,073,420. The business’s 50-day simple moving average is $6.65 and its 200-day simple moving average is $5.98. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -13.85 and a beta of 1.71. Infinera has a 12 month low of $3.61 and a 12 month high of $6.92. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.94 and a current ratio of 1.58.

Institutional Investors Weigh In On Infinera

A number of large investors have recently bought and sold shares of the company. SageView Advisory Group LLC acquired a new stake in shares of Infinera in the first quarter worth $39,000. EverSource Wealth Advisors LLC purchased a new position in shares of Infinera during the 2nd quarter valued at about $104,000. Headlands Technologies LLC acquired a new position in shares of Infinera in the 2nd quarter valued at about $112,000. Algert Global LLC purchased a new stake in shares of Infinera in the second quarter worth about $128,000. Finally, Palumbo Wealth Management LLC boosted its stake in shares of Infinera by 8.4% in the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock worth $162,000 after buying an additional 1,850 shares during the last quarter. 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.