Infinera (NASDAQ:INFN) Sets New 12-Month High at $6.62

Infinera Co. (NASDAQ:INFN) reached a new 52-week high during trading on Monday . The company traded as high as $6.62 and last traded at $6.62, with a volume of 37160 shares trading hands. The stock had previously closed at $6.46.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Morgan Stanley raised their price target on Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a report on Friday, June 28th. JPMorgan Chase & Co. boosted their target price on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Tuesday, August 6th. Craig Hallum restated a “hold” rating and issued a $6.65 target price (down previously from $12.00) on shares of Infinera in a research note on Monday, July 1st. Needham & Company LLC reiterated a “hold” rating on shares of Infinera in a research report on Friday, June 28th. Finally, Berenberg Bank raised Infinera to a “hold” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.09.

Infinera Trading Up 2.9 %

The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -19.00 and a beta of 1.71. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.57 and a quick ratio of 0.94. The business’s 50-day moving average price is $6.04 and its two-hundred day moving average price is $5.56.

Infinera (NASDAQ:INFN) last released its earnings results 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. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. The firm had revenue of $342.70 million during the quarter, compared to analyst estimates of $331.71 million. The firm’s revenue was down 8.9% compared to the same quarter last year. Equities analysts expect that Infinera Co. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Infinera

Several institutional investors and hedge funds have recently bought and sold shares of the stock. SageView Advisory Group LLC purchased a new stake in Infinera during the first quarter valued at about $39,000. Partners Capital Investment Group LLP acquired a new position in shares of Infinera during the fourth quarter worth about $48,000. Worth Venture Partners LLC purchased a new stake in shares of Infinera in the fourth quarter worth about $53,000. RPO LLC acquired a new stake in shares of Infinera in the fourth quarter valued at about $82,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of Infinera during the 2nd quarter valued at about $104,000. Institutional investors and hedge funds 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.