Infinera (NASDAQ:INFN) Sees Unusually-High Trading Volume

Infinera Co. (NASDAQ:INFN) saw an uptick in trading volume on Monday . 2,567,948 shares traded hands during trading, a decline of 47% from the previous session’s volume of 4,862,120 shares.The stock last traded at $6.71 and had previously closed at $6.70.

Analyst Ratings Changes

Several research analysts have recently commented on INFN shares. Rosenblatt Securities lowered 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 report on Monday, August 5th. B. Riley cut their price target on Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a report on Monday, August 5th. StockNews.com started coverage on Infinera in a research note on Thursday. They issued a “sell” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Infinera in a research note on Friday, June 28th. Finally, Berenberg Bank upgraded shares of Infinera to a “hold” rating in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $7.09.

Infinera Price Performance

The company has a 50-day simple moving average of $6.10 and a 200-day simple moving average of $5.61. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -19.82 and a beta of 1.71. 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 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 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 business’s quarterly revenue was down 8.9% on a year-over-year basis. As a group, research analysts predict that Infinera Co. will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AIGH Capital Management LLC grew its position in shares of Infinera by 278.8% in the second quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider’s stock valued at $20,515,000 after purchasing an additional 2,479,272 shares during the period. Vanguard Group Inc. grew its stake in shares of Infinera by 9.3% during the 1st quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock valued at $163,108,000 after buying an additional 2,299,025 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Infinera by 22.4% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider’s stock worth $67,343,000 after buying an additional 2,025,658 shares during the period. Water Island Capital LLC acquired a new position in Infinera in the second quarter valued at $9,196,000. Finally, Hood River Capital Management LLC increased its stake in 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 worth $25,098,000 after acquiring an additional 1,432,016 shares during the last quarter. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.