Infinera (NASDAQ:INFN) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Infinera Co. (NASDAQ:INFN)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.88 and traded as high as $6.78. Infinera shares last traded at $6.74, with a volume of 536,233 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Berenberg Bank raised shares of Infinera to a “hold” rating in a report on Monday, August 5th. StockNews.com cut shares of Infinera from a “hold” rating to a “sell” rating in a report on Monday, October 21st. JPMorgan Chase & Co. lifted their price objective on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Craig Hallum reaffirmed a “hold” rating and issued a $6.65 price objective (down previously from $12.00) on shares of Infinera in a report on Monday, July 1st. Finally, Rosenblatt Securities cut shares of Infinera from a “buy” rating to a “neutral” rating and cut their price objective for the company from $8.00 to $6.65 in a report on Monday, August 5th. Two equities 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 company’s stock. Based on data from MarketBeat.com, Infinera has a consensus rating of “Hold” and a consensus price target of $7.09.

Infinera Stock Down 0.4 %

The firm has a market cap of $1.58 billion, a PE ratio of -19.82 and a beta of 1.72. The business’s 50 day moving average price is $6.54 and its 200 day moving average price is $5.88. 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 (NASDAQ:INFN) last posted its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $342.70 million for the quarter, compared to analyst estimates of $331.71 million. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. Infinera’s revenue was down 8.9% compared to the same quarter last year. On average, equities research analysts expect that Infinera Co. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Infinera

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Infinera by 9.3% in 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 purchasing an additional 2,299,025 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake 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 valued at $67,343,000 after acquiring an additional 2,025,658 shares during the period. Hood River Capital Management LLC raised its stake in shares of Infinera by 14.2% in the 2nd quarter. Hood River Capital Management LLC now owns 4,753,842 shares of the communications equipment provider’s stock valued at $28,951,000 after acquiring an additional 591,611 shares during the period. AIGH Capital Management LLC raised its stake in shares of Infinera by 278.8% in the 2nd quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider’s stock valued at $20,515,000 after acquiring an additional 2,479,272 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Infinera by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,759,906 shares of the communications equipment provider’s stock valued at $16,802,000 after acquiring an additional 748,155 shares during the period. 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.