Infinera (NASDAQ:INFN) Share Price Crosses Above 200 Day Moving Average of $5.10

Infinera Co. (NASDAQ:INFN)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.10 and traded as high as $5.19. Infinera shares last traded at $5.18, with a volume of 1,525,752 shares trading hands.

Wall Street Analysts Forecast Growth

INFN has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a research note on Friday. Stifel Nicolaus restated a “buy” rating and issued a $7.00 price target on shares of Infinera in a research report on Wednesday, May 15th. B. Riley reissued a “buy” rating and set a $9.00 price objective on shares of Infinera in a research note on Wednesday, May 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Infinera in a report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.73.

Infinera Stock Up 15.8 %

The business’s 50 day moving average is $5.26 and its 200 day moving average is $5.11. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.97 and a current ratio of 1.65. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -17.91 and a beta of 1.58.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.07). Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. The business had revenue of $306.92 million for the quarter, compared to analyst estimates of $337.73 million. Equities analysts expect that Infinera Co. will post -0.19 earnings per share for the current year.

Institutional Trading of Infinera

Hedge funds have recently made changes to their positions in the stock. Verity Asset Management Inc. acquired a new position in Infinera in the 1st quarter valued at approximately $291,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Infinera by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 148,324 shares of the communications equipment provider’s stock valued at $895,000 after buying an additional 6,617 shares during the period. Hood River Capital Management LLC grew its holdings in shares of Infinera by 52.5% during the 1st quarter. Hood River Capital Management LLC now owns 4,162,231 shares of the communications equipment provider’s stock valued at $25,098,000 after acquiring an additional 1,432,016 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Infinera by 9.3% in the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock worth $163,108,000 after acquiring an additional 2,299,025 shares during the last quarter. Finally, Blair William & Co. IL raised its holdings in shares of Infinera by 8.7% during the first quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider’s stock worth $286,000 after acquiring an additional 3,800 shares in the last quarter. 97.54% of the stock is 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.