Infinera (NASDAQ:INFN) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Infinera Co. (NASDAQ:INFN)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.88 and traded as high as $6.78. Infinera shares last traded at $6.74, with a volume of 536,233 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Berenberg Bank upgraded shares of Infinera to a “hold” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. B. Riley dropped their price objective on Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a report on Monday, August 5th. StockNews.com downgraded Infinera from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Finally, Rosenblatt Securities downgraded Infinera from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $6.65 in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Infinera has an average rating of “Hold” and an average price target of $7.09.

Infinera Trading Down 0.7 %

The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -19.82 and a beta of 1.72. The business’s 50 day moving average price is $6.57 and its 200-day moving average price is $5.90. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.57 and a quick ratio of 0.94.

Infinera (NASDAQ:INFN) last issued its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $342.70 million during the quarter, compared to the consensus estimate of $331.71 million. Infinera’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities analysts forecast that Infinera Co. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Infinera

Institutional investors have recently made changes to their positions in the stock. Palumbo Wealth Management LLC lifted its stake in shares of Infinera by 8.4% in the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after purchasing an additional 1,850 shares during the period. Creative Planning increased its holdings in Infinera by 87.3% in the third quarter. Creative Planning now owns 30,443 shares of the communications equipment provider’s stock valued at $205,000 after buying an additional 14,193 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Infinera by 44.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 83,406 shares of the communications equipment provider’s stock valued at $563,000 after acquiring an additional 25,600 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Infinera during the 3rd quarter worth approximately $556,000. Finally, Water Island Capital LLC acquired a new stake in shares of Infinera in the 2nd quarter worth approximately $9,196,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

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.