Infinera (NASDAQ:INFN) Sees Large Volume Increase

Infinera Co. (NASDAQ:INFN) saw unusually-high trading volume on Tuesday . Approximately 8,951,480 shares were traded during trading, an increase of 132% from the previous session’s volume of 3,853,568 shares.The stock last traded at $5.95 and had previously closed at $5.99.

Analysts Set New Price Targets

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

Infinera Stock Up 1.4 %

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 firm’s 50-day moving average is $5.65 and its 200 day moving average is $5.30. The firm has a market capitalization of $1.40 billion, a PE ratio of -17.59 and a beta of 1.64.

Infinera (NASDAQ:INFN) last announced its 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 firm had revenue of $306.92 million during the quarter, compared to analyst estimates of $337.73 million. As a group, research analysts forecast that Infinera Co. will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in INFN. Harbor Capital Advisors Inc. increased its stake in shares of Infinera by 249.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,276,876 shares of the communications equipment provider’s stock valued at $7,776,000 after acquiring an additional 911,293 shares during the last quarter. First Hawaiian Bank acquired a new position in shares of Infinera during the 2nd quarter valued at about $666,000. Verity Asset Management Inc. acquired a new position in shares of Infinera during the 1st quarter valued at about $291,000. Price T Rowe Associates Inc. MD increased 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 acquiring an additional 6,617 shares during the last quarter. Finally, Hood River Capital Management LLC increased its stake 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 during the last quarter. Institutional investors and hedge funds 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.