Infinera (NASDAQ:INFN) Sees Large Volume Increase – Here’s What Happened

Shares of Infinera Co. (NASDAQ:INFN) saw unusually-strong trading volume on Thursday . Approximately 1,078,915 shares traded hands during trading, an increase of 85% from the previous session’s volume of 584,415 shares.The stock last traded at $6.64 and had previously closed at $6.61.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. B. Riley lowered Infinera from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $6.65 target price on shares of Infinera in a research note on Wednesday, November 6th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $7.09.

Infinera Price Performance

The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98. The business’s 50-day simple moving average is $6.60 and its two-hundred day simple moving average is $6.47. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -13.79 and a beta of 1.64.

Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The firm had revenue of $354.40 million for the quarter, compared to the consensus estimate of $401.96 million. As a group, research analysts expect that Infinera Co. will post -0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Infinera

Several institutional investors have recently added to or reduced their stakes in INFN. Quantbot Technologies LP bought a new position in Infinera during the third quarter worth $40,000. Algert Global LLC acquired a new stake in shares of Infinera in the 2nd quarter valued at about $128,000. Palumbo Wealth Management LLC increased its position in Infinera by 8.4% in the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after buying an additional 1,850 shares in the last quarter. Creative Planning raised its stake in Infinera by 87.3% during the 3rd quarter. Creative Planning now owns 30,443 shares of the communications equipment provider’s stock worth $205,000 after buying an additional 14,193 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Infinera by 20.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 50,074 shares of the communications equipment provider’s stock valued at $329,000 after acquiring an additional 8,363 shares in the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

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.