Infinera (NASDAQ:INFN) Downgraded by StockNews.com to Sell

Infinera (NASDAQ:INFN) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Monday.

Other equities research analysts have also issued research reports about the company. Rosenblatt Securities lowered Infinera from a “buy” rating to a “neutral” rating and lowered their target price for the company from $8.00 to $6.65 in a research note on Monday, August 5th. B. Riley lowered their target price on Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a research note on Monday, August 5th. Morgan Stanley increased their target price on Infinera from $5.40 to $6.65 and gave the company an “equal weight” rating in a research note on Friday, June 28th. Needham & Company LLC reiterated a “hold” rating on shares of Infinera in a research note on Friday, June 28th. Finally, Berenberg Bank upgraded Infinera to a “hold” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.09.

Infinera Stock Performance

Infinera stock opened at $6.87 on Monday. The stock’s 50-day moving average is $6.43 and its 200-day moving average is $5.82. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -20.21 and a beta of 1.72. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.57 and a quick ratio of 0.94. Infinera has a 12 month low of $2.82 and a 12 month high of $6.92.

Infinera (NASDAQ:INFN) last released its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, topping 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 company had revenue of $342.70 million for the quarter, compared to the consensus estimate of $331.71 million. Infinera’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities analysts anticipate that Infinera will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Infinera

A number of hedge funds have recently bought and sold shares of the business. Creative Planning grew its stake in Infinera by 87.3% during the 3rd quarter. Creative Planning now owns 30,443 shares of the communications equipment provider’s stock valued at $205,000 after purchasing an additional 14,193 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Infinera by 44.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 83,406 shares of the communications equipment provider’s stock worth $563,000 after acquiring an additional 25,600 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Infinera in the 3rd quarter worth approximately $556,000. Water Island Capital LLC acquired a new position in shares of Infinera in the 2nd quarter worth approximately $9,196,000. Finally, Algert Global LLC acquired a new position in shares of Infinera in the 2nd quarter worth approximately $128,000. Institutional investors and hedge funds 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.