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

Infinera Co. (NASDAQ:INFN)’s stock price passed 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 changing hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on INFN shares. Stifel Nicolaus reissued a “buy” rating and issued a $7.00 price target on shares of Infinera in a report on Wednesday, May 15th. B. Riley reaffirmed a “buy” rating and set a $9.00 price objective on shares of Infinera in a report on Wednesday, May 15th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of Infinera in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Infinera currently has an average rating of “Hold” and an average price target of $7.32.

Infinera Trading Up 2.2 %

The firm’s 50-day simple moving average is $5.25 and its 200-day simple moving average is $5.10. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 4.08. The firm has a market capitalization of $1.21 billion, a PE ratio of -15.24 and a beta of 1.58.

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

Hedge Funds Weigh In On Infinera

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Infinera by 9.3% during the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock valued at $163,108,000 after acquiring an additional 2,299,025 shares during the last quarter. Shapiro Capital Management LLC raised its stake in shares of Infinera by 1.5% during the third quarter. Shapiro Capital Management LLC now owns 19,271,676 shares of the communications equipment provider’s stock valued at $80,556,000 after acquiring an additional 293,787 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Infinera by 8.0% during 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 last quarter. Hood River Capital Management LLC raised its stake in shares of Infinera by 52.5% during the first quarter. Hood River Capital Management LLC now owns 4,162,231 shares of the communications equipment provider’s stock valued at $25,098,000 after acquiring an additional 1,432,016 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Infinera by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,576,725 shares of the communications equipment provider’s stock valued at $7,489,000 after acquiring an additional 35,676 shares during the last quarter. 97.54% of the stock is owned by institutional investors.

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.