Infinera (NASDAQ:INFN) Hits New 12-Month High at $6.83

Infinera Co. (NASDAQ:INFN)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $6.83 and last traded at $6.83, with a volume of 2221671 shares traded. The stock had previously closed at $6.79.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INFN. Morgan Stanley boosted their target price 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. boosted their target price on shares of Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Craig Hallum reissued a “hold” rating and set a $6.65 target price (down from $12.00) on shares of Infinera in a research report on Monday, July 1st. Needham & Company LLC reissued a “hold” rating on shares of Infinera in a research report on Friday, June 28th. Finally, Rosenblatt Securities downgraded shares of Infinera from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $8.00 to $6.65 in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.09.

Infinera Price Performance

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 company has a market capitalization of $1.61 billion, a P/E ratio of -20.06 and a beta of 1.71. The firm’s 50-day moving average is $6.11 and its 200-day moving average is $5.62.

Infinera (NASDAQ:INFN) last released its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $331.71 million. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. Analysts predict that Infinera Co. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Kovack Advisors Inc. increased its position in Infinera by 39.4% during the first quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock valued at $3,307,000 after acquiring an additional 154,904 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Infinera by 9.3% in the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock worth $163,108,000 after purchasing an additional 2,299,025 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Infinera in the first quarter worth about $627,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Infinera in the first quarter worth about $759,000. Finally, AMH Equity Ltd bought a new position in shares of Infinera in the first quarter worth about $1,990,000. 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.