Infinera (NASDAQ:INFN) Lowered to “Hold” Rating by B. Riley

B. Riley cut shares of Infinera (NASDAQ:INFN) from a strong-buy rating to a hold rating in a research note released on Wednesday,Zacks.com reports.

Several other analysts have also recently weighed in on INFN. JPMorgan Chase & Co. raised their price target on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $6.65 price target on shares of Infinera in a report on Wednesday. StockNews.com raised Infinera from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Berenberg Bank raised Infinera to a “hold” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Infinera currently has a consensus rating of “Hold” and an average target price of $7.09.

Infinera Price Performance

INFN stock opened at $6.65 on Wednesday. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.94 and a current ratio of 1.58. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.85 and a beta of 1.71. Infinera has a fifty-two week low of $3.61 and a fifty-two week high of $6.92. The stock has a fifty day moving average of $6.65 and a 200-day moving average of $5.99.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. 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 acquiring an additional 2,299,025 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Infinera in the first quarter worth $627,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Infinera in the first quarter worth $759,000. First Hawaiian Bank bought a new stake in shares of Infinera in the second quarter worth $666,000. Finally, Blair William & Co. IL grew its holdings in shares of Infinera by 8.7% in the first quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider’s stock worth $286,000 after acquiring an additional 3,800 shares during the period. Hedge funds and other 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.