Infinera (NASDAQ:INFN) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Infinera Co. (NASDAQ:INFN - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.35 and traded as high as $6.61. Infinera shares last traded at $6.59, with a volume of 358,512 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on INFN shares. Rosenblatt Securities restated a "neutral" rating and issued a $6.65 price objective on shares of Infinera in a report on Wednesday, November 6th. StockNews.com raised Infinera from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Finally, B. Riley lowered shares of Infinera from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $7.09.

Infinera Trading Up 0.3 %

The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. The stock has a market capitalization of $1.56 billion, a PE ratio of -13.73 and a beta of 1.64. The business's 50-day moving average is $6.63 and its two-hundred day moving average is $6.36.

Infinera (NASDAQ:INFN - Get Free Report) last posted 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). The firm had revenue of $354.40 million during the quarter, compared to analysts' expectations of $401.96 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. On average, analysts anticipate that Infinera Co. will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infinera

Institutional investors have recently modified their holdings of the business. Quantbot Technologies LP acquired a new position in Infinera in the third quarter valued at $40,000. EverSource Wealth Advisors LLC acquired a new position in Infinera in the 2nd quarter valued at about $104,000. Headlands Technologies LLC purchased a new stake in Infinera during the 2nd quarter valued at approximately $112,000. Algert Global LLC acquired a new stake in Infinera during the 2nd quarter worth approximately $128,000. Finally, Palumbo Wealth Management LLC grew its stake in shares of Infinera by 8.4% in the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider's stock valued at $162,000 after purchasing an additional 1,850 shares during the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

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.