StockNews.com Begins Coverage on Infinera (NASDAQ:INFN)

Analysts at StockNews.com initiated coverage on shares of Infinera (NASDAQ:INFN) in a note issued to investors on Thursday. The firm set a “sell” rating on the communications equipment provider’s stock.

INFN has been the subject of a number of other research reports. B. Riley reissued a “buy” rating and set a $9.00 price objective on shares of Infinera in a research report on Wednesday, May 15th. Craig Hallum reissued a “hold” rating and set a $6.65 price objective (down previously from $12.00) on shares of Infinera in a research report on Monday, July 1st. Needham & Company LLC reissued a “hold” rating on shares of Infinera in a research report on Friday, June 28th. Stifel Nicolaus reissued a “buy” rating and set a $7.00 price objective on shares of Infinera in a research report on Wednesday, May 15th. Finally, Morgan Stanley boosted their price objective on shares of Infinera from $5.40 to $6.65 and gave the company an “equal weight” rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.55.

Infinera Trading Up 0.7 %

NASDAQ:INFN opened at $6.02 on Thursday. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 4.08. Infinera has a 12 month low of $2.82 and a 12 month high of $6.62. The company has a market cap of $1.41 billion, a PE ratio of -17.71 and a beta of 1.64. The company has a 50 day simple moving average of $5.66 and a two-hundred day simple moving average of $5.31.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. SageView Advisory Group LLC purchased a new stake in Infinera in the 1st quarter worth $39,000. Partners Capital Investment Group LLP purchased a new stake in Infinera in the 4th quarter worth $48,000. Worth Venture Partners LLC purchased a new stake in Infinera in the 4th quarter worth $53,000. Ironwood Investment Counsel LLC purchased a new stake in Infinera in the 4th quarter worth $56,000. Finally, SG Americas Securities LLC purchased a new stake in Infinera in the 4th quarter worth $81,000. 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.