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

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

Other research analysts have also recently issued research reports about the company. Berenberg Bank raised Infinera to a "hold" rating in a research report on Monday, August 5th. StockNews.com raised Infinera from a "sell" rating to a "hold" rating in a research report on Thursday. JPMorgan Chase & Co. upped their price target on Infinera from $5.00 to $6.00 and gave the company an "underweight" rating in a research report on Tuesday, August 6th. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and set a $6.65 price target on shares of Infinera in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $7.09.

Infinera Price Performance

INFN stock remained flat at $6.65 during midday trading on Wednesday. The company's stock had a trading volume of 784,164 shares, compared to its average volume of 1,073,420. The company's 50-day moving average is $6.65 and its 200-day moving average is $5.98. The company has a current ratio of 1.58, a quick ratio of 0.94 and a debt-to-equity ratio of 4.98. Infinera has a twelve month low of $3.61 and a twelve month high of $6.92. The stock has a market cap of $1.57 billion, a PE ratio of -13.85 and a beta of 1.71.

Hedge Funds Weigh In On Infinera

A number of institutional investors have recently added to or reduced their stakes in the business. Palumbo Wealth Management LLC increased its stake in Infinera by 8.4% in the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider's stock worth $162,000 after acquiring an additional 1,850 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Infinera by 3.9% during the 2nd quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider's stock valued at $355,000 after buying an additional 2,180 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Infinera by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider's stock valued at $216,000 after buying an additional 2,821 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Infinera by 8.7% during the 1st quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider's stock valued at $286,000 after buying an additional 3,800 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Infinera by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 102,869 shares of the communications equipment provider's stock valued at $626,000 after buying an additional 4,266 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors.

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.