Infinera (NASDAQ:INFN) Sees Large Volume Increase

Infinera Co. (NASDAQ:INFN - Get Free Report) shares saw an uptick in trading volume on Monday . 2,567,948 shares changed hands during mid-day trading, a decline of 47% from the previous session's volume of 4,862,120 shares.The stock last traded at $6.71 and had previously closed at $6.70.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Berenberg Bank upgraded Infinera to a "hold" rating in a research report on Monday, August 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Infinera in a report on Friday, June 28th. JPMorgan Chase & Co. increased their target price on shares of Infinera from $5.00 to $6.00 and gave the company an "underweight" rating in a research report on Tuesday, August 6th. StockNews.com started coverage on shares of Infinera in a research note on Thursday. They set a "sell" rating for the company. Finally, Morgan Stanley boosted their target price on Infinera from $5.40 to $6.65 and gave the stock an "equal weight" rating in a report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Infinera presently has a consensus rating of "Hold" and a consensus target price of $7.09.

Infinera Stock Up 1.3 %

The firm has a 50-day moving average of $6.10 and a two-hundred day moving average of $5.61. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02. The company has a market capitalization of $1.59 billion, a PE ratio of -19.82 and a beta of 1.71.

Infinera (NASDAQ:INFN - Get Free Report) last released its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.02. The business 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 firm's quarterly revenue was down 8.9% on a year-over-year basis. Equities research analysts predict that Infinera Co. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infinera

A number of hedge funds have recently made changes to their positions in the stock. SageView Advisory Group LLC acquired a new stake in shares of Infinera during the first quarter worth about $39,000. Partners Capital Investment Group LLP acquired a new position in Infinera during the 4th quarter worth $48,000. RPO LLC purchased a new stake in Infinera during the 4th quarter worth about $82,000. EverSource Wealth Advisors LLC acquired a new stake in Infinera in the 2nd quarter valued at about $104,000. Finally, Headlands Technologies LLC purchased a new position in shares of Infinera in the 2nd quarter valued at about $112,000. Hedge funds and other institutional investors own 97.54% of the company's stock.

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.