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

StockNews.com started coverage on shares of Infinera (NASDAQ:INFN) in a research note released on Wednesday. The brokerage issued a sell rating on the communications equipment provider’s stock.

INFN has been the subject of a number of other research reports. Berenberg Bank raised shares of Infinera to a hold rating in a research note on Monday, August 5th. Morgan Stanley upped their price target on shares of Infinera from $5.40 to $6.65 and gave the company an equal weight rating in a report on Friday, June 28th. Craig Hallum reiterated a hold rating and set a $6.65 price target (down from $12.00) on shares of Infinera in a report on Monday, July 1st. JPMorgan Chase & Co. upped their price target on shares of Infinera from $5.00 to $6.00 and gave the company an underweight rating in a report on Tuesday, August 6th. Finally, B. Riley decreased their price objective on shares of Infinera from $9.00 to $6.65 and set a buy rating for the company in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $7.09.

Infinera Stock Performance

Shares of INFN stock opened at $6.46 on Wednesday. The firm’s 50-day simple moving average is $6.04 and its two-hundred day simple moving average is $5.55. Infinera has a 52 week low of $2.82 and a 52 week high of $6.62. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -19.00 and a beta of 1.71.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $342.70 million during the quarter, compared to analysts’ expectations of $331.71 million. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The business’s quarterly revenue was down 8.9% on a year-over-year basis. As a group, equities analysts forecast that Infinera will post -0.17 earnings per share for the current year.

Institutional Trading of Infinera

Institutional investors have recently made changes to their positions in the stock. SageView Advisory Group LLC purchased a new stake in shares of Infinera during the 1st quarter valued at about $39,000. Partners Capital Investment Group LLP bought a new position in shares of Infinera in the 4th quarter worth approximately $48,000. Worth Venture Partners LLC bought a new position in shares of Infinera in the 4th quarter worth approximately $53,000. RPO LLC bought a new position in shares of Infinera in the 4th quarter worth approximately $82,000. Finally, EverSource Wealth Advisors LLC bought a new position in shares of Infinera in the 2nd quarter worth approximately $104,000. 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.