Infinera (NASDAQ:INFN) Sees Strong Trading Volume - Here's Why

Infinera Co. (NASDAQ:INFN - Get Free Report) shares saw an uptick in trading volume on Thursday . 1,078,915 shares were traded during trading, an increase of 85% from the previous session's volume of 584,415 shares.The stock last traded at $6.64 and had previously closed at $6.61.

Analyst Upgrades and Downgrades

INFN has been the subject of a number of research analyst reports. StockNews.com raised Infinera from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. B. Riley cut shares of Infinera from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 6th. Finally, Rosenblatt Securities reiterated a "neutral" rating and set a $6.65 price target on shares of Infinera in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Infinera presently has a consensus rating of "Hold" and an average target price of $7.09.

Infinera Stock Performance

The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -13.79 and a beta of 1.64. The stock's 50 day moving average is $6.60 and its two-hundred day moving average is $6.47.

Infinera (NASDAQ:INFN - Get Free Report) last announced its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. The business had revenue of $354.40 million for the quarter, compared to analyst estimates of $401.96 million. Analysts anticipate that Infinera Co. will post -0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Palumbo Wealth Management LLC lifted its holdings in shares of Infinera by 41.5% during the fourth quarter. Palumbo Wealth Management LLC now owns 33,883 shares of the communications equipment provider's stock worth $223,000 after purchasing an additional 9,929 shares during the period. Rhumbline Advisers raised its position in Infinera by 1.9% during the 4th quarter. Rhumbline Advisers now owns 292,741 shares of the communications equipment provider's stock worth $1,923,000 after buying an additional 5,445 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of Infinera in the 4th quarter worth $2,306,000. SG Americas Securities LLC boosted its holdings in shares of Infinera by 17.7% in the fourth quarter. SG Americas Securities LLC now owns 96,983 shares of the communications equipment provider's stock valued at $637,000 after acquiring an additional 14,595 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Infinera by 20.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 50,074 shares of the communications equipment provider's stock worth $329,000 after acquiring an additional 8,363 shares during the period. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

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.