Rosenblatt Securities Reaffirms Neutral Rating for Infinera (NASDAQ:INFN)

Rosenblatt Securities reissued their neutral rating on shares of Infinera (NASDAQ:INFN) in a report issued on Wednesday,Benzinga reports. The brokerage currently has a $6.65 price objective on the communications equipment provider’s stock.

A number of other research analysts have also commented on INFN. JPMorgan Chase & Co. upped their price target on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. StockNews.com downgraded Infinera from a “hold” rating to a “sell” rating in a report on Monday, October 21st. B. Riley cut their price target on shares of Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, Berenberg Bank raised shares of Infinera to a “hold” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.09.

Infinera Price Performance

INFN stock opened at $6.65 on Wednesday. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.85 and a beta of 1.71. The firm’s 50-day moving average price is $6.65 and its two-hundred day moving average price is $5.99. The company has a current ratio of 1.58, a quick ratio of 0.94 and a debt-to-equity ratio of 4.98. Infinera has a 12-month low of $3.61 and a 12-month high of $6.92.

Institutional Trading of Infinera

A number of hedge funds have recently modified their holdings of the business. SageView Advisory Group LLC purchased a new position in Infinera during the 1st quarter valued at about $39,000. EverSource Wealth Advisors LLC bought a new position in shares of Infinera during the second quarter valued at approximately $104,000. Headlands Technologies LLC purchased a new position in shares of Infinera during the second quarter valued at approximately $112,000. Algert Global LLC bought a new stake in shares of Infinera in the 2nd quarter worth approximately $128,000. Finally, Palumbo Wealth Management LLC grew its stake in shares of Infinera by 8.4% in the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock worth $162,000 after buying an additional 1,850 shares during the last quarter. Institutional investors own 97.54% of the company’s stock.

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.