Infinera (NASDAQ:INFN) Shares Gap Up After Analyst Upgrade

Shares of Infinera Co. (NASDAQ:INFN) gapped up before the market opened on Friday after Morgan Stanley raised their price target on the stock from $5.40 to $6.65. The stock had previously closed at $5.26, but opened at $6.22. Morgan Stanley currently has an equal weight rating on the stock. Infinera shares last traded at $6.25, with a volume of 6,443,231 shares traded.

A number of other analysts have also recently weighed in on the stock. B. Riley reissued a “buy” rating and set a $9.00 target price on shares of Infinera in a report on Wednesday, May 15th. Stifel Nicolaus reissued a “buy” rating and issued a $7.00 target price on shares of Infinera in a report on Wednesday, May 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Infinera in a research note on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.73.

Institutional Trading of Infinera

Hedge funds have recently bought and sold shares of the company. SageView Advisory Group LLC bought a new position in Infinera in the 1st quarter worth about $39,000. Partners Capital Investment Group LLP acquired a new position in shares of Infinera during the fourth quarter worth approximately $48,000. Worth Venture Partners LLC bought a new position in Infinera in the 4th quarter worth approximately $53,000. Ironwood Investment Counsel LLC acquired a new stake in Infinera in the 4th quarter valued at approximately $56,000. Finally, SG Americas Securities LLC bought a new stake in Infinera during the 4th quarter valued at $81,000. 97.54% of the stock is currently owned by institutional investors.

Infinera Stock Up 15.8 %

The company has a market cap of $1.43 billion, a price-to-earnings ratio of -17.91 and a beta of 1.58. The stock has a 50-day simple moving average of $5.28 and a 200-day simple moving average of $5.12. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 4.08.

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

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.