Infinera (NASDAQ:INFN) Share Price Crosses Above 200-Day Moving Average - Here's Why

Infinera Co. (NASDAQ:INFN - Get Free Report) shares 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 traded.

Analyst Ratings Changes

INFN has been the topic of several recent research reports. B. Riley cut their target price on shares of Infinera from $9.00 to $6.65 and set a "buy" rating on the stock in a research note on Monday, August 5th. StockNews.com cut Infinera from a "hold" rating to a "sell" rating in a research note on Monday, October 21st. Rosenblatt Securities lowered Infinera from a "buy" rating to a "neutral" rating and decreased their target price for the company from $8.00 to $6.65 in a report on Monday, August 5th. Craig Hallum restated a "hold" rating and set a $6.65 price target (down previously from $12.00) on shares of Infinera in a report on Monday, July 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Infinera from $5.00 to $6.00 and gave the company an "underweight" rating in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Infinera currently has a consensus rating of "Hold" and a consensus target price of $7.09.

Infinera Price Performance

The company has a market capitalization of $1.59 billion, a PE ratio of -19.97 and a beta of 1.72. The company has a current ratio of 1.57, a quick ratio of 0.94 and a debt-to-equity ratio of 5.02. The stock has a fifty day simple moving average of $6.55 and a 200-day simple moving average of $5.89.

Infinera (NASDAQ:INFN - Get Free Report) last posted its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm had revenue of $342.70 million during the quarter, compared to analysts' expectations of $331.71 million. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. The business's revenue was down 8.9% on a year-over-year basis. Equities analysts anticipate that Infinera Co. will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Infinera

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SageView Advisory Group LLC purchased a new position in shares of Infinera during the first quarter worth about $39,000. EverSource Wealth Advisors LLC purchased a new position in Infinera during the 2nd quarter worth approximately $104,000. Headlands Technologies LLC purchased a new position in Infinera during the 2nd quarter worth approximately $112,000. Algert Global LLC acquired a new position in Infinera during the second quarter worth approximately $128,000. Finally, Principal Financial Group Inc. lifted its stake in Infinera by 16.2% in the first quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider's stock valued at $162,000 after buying an additional 3,725 shares during the last quarter. 97.54% of the stock is currently 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.