Infinera (NASDAQ:INFN) Coverage Initiated at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Infinera (NASDAQ:INFN) in a note issued to investors on Thursday. The brokerage set a “sell” rating on the communications equipment provider’s stock.

Other analysts have also issued reports about the company. B. Riley reduced their target price on Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a report on Monday, August 5th. Morgan Stanley upped their price objective on shares of Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. raised their target price on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Berenberg Bank upgraded shares of Infinera to a “hold” rating in a research report on Monday, August 5th. Finally, Rosenblatt Securities lowered shares of Infinera from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $8.00 to $6.65 in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.09.

Infinera Stock Down 0.2 %

INFN opened at $6.65 on Thursday. The stock has a fifty day moving average of $6.06 and a 200-day moving average of $5.58. The company has a market capitalization of $1.56 billion, a P/E ratio of -19.56 and a beta of 1.71. Infinera has a fifty-two week low of $2.82 and a fifty-two week high of $6.76. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The firm had revenue of $342.70 million during the quarter, compared to the consensus estimate of $331.71 million. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. On average, equities analysts expect that Infinera will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Infinera

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SageView Advisory Group LLC acquired a new stake in Infinera in the first quarter valued at approximately $39,000. Partners Capital Investment Group LLP acquired a new stake in shares of Infinera during the 4th quarter valued at $48,000. RPO LLC bought a new stake in Infinera during the 4th quarter worth $82,000. EverSource Wealth Advisors LLC acquired a new position in Infinera in the 2nd quarter worth about $104,000. Finally, Headlands Technologies LLC bought a new position in Infinera in the second 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.