StockNews.com Begins Coverage on Infinera (NASDAQ:INFN)

StockNews.com started coverage on shares of Infinera (NASDAQ:INFN) in a research report released on Thursday. The firm issued a sell rating on the communications equipment provider’s stock.

INFN has been the subject of a number of other research reports. Rosenblatt Securities lowered shares of Infinera from a buy rating to a neutral rating and dropped their price target for the stock from $8.00 to $6.65 in a research note on Monday, August 5th. Berenberg Bank raised shares of Infinera to a hold rating in a research report on Monday, August 5th. Needham & Company LLC reaffirmed a hold rating on shares of Infinera in a research report on Friday, June 28th. JPMorgan Chase & Co. boosted their price objective on Infinera from $5.00 to $6.00 and gave the company an underweight rating in a report on Tuesday, August 6th. Finally, Craig Hallum restated a hold rating and set a $6.65 price objective (down previously from $12.00) on shares of Infinera in a research note on Monday, July 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $7.09.

Infinera Stock Up 0.1 %

Shares of Infinera stock opened at $6.70 on Thursday. Infinera has a 1-year low of $2.82 and a 1-year high of $6.76. The company has a market capitalization of $1.57 billion, a PE ratio of -19.71 and a beta of 1.71. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.57 and a quick ratio of 0.94. The business has a 50-day moving average of $6.10 and a 200-day moving average of $5.61.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, beating 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 analyst estimates of $331.71 million. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. As a group, equities analysts forecast that Infinera will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Infinera

Several institutional investors have recently made changes to their positions in the stock. SageView Advisory Group LLC acquired a new position in Infinera during the 1st quarter valued at approximately $39,000. Partners Capital Investment Group LLP acquired a new position in shares of Infinera during the fourth quarter valued at $48,000. RPO LLC bought a new position in shares of Infinera during the fourth quarter worth about $82,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Infinera in the 2nd quarter worth about $104,000. Finally, Headlands Technologies LLC bought a new stake in Infinera in the 2nd quarter valued at about $112,000. 97.54% of the stock is owned by 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.