Infinera (NASDAQ:INFN) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Infinera (NASDAQ:INFN) from a sell rating to a hold rating in a research report report published on Thursday morning.

INFN has been the topic of several other reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $6.65 price target on shares of Infinera in a research report on Wednesday. B. Riley dropped their target price on shares of Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a research report on Monday, August 5th. Berenberg Bank raised shares of Infinera to a “hold” rating in a report on Monday, August 5th. Finally, 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 report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.09.

Infinera Stock Performance

Infinera stock opened at $6.65 on Thursday. Infinera has a 52 week low of $3.61 and a 52 week high of $6.92. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.94 and a current ratio of 1.58. The firm has a market capitalization of $1.57 billion, a PE ratio of -13.85 and a beta of 1.71. The business’s 50-day simple moving average is $6.65 and its 200-day simple moving average is $5.99.

Institutional Investors Weigh In On Infinera

A number of institutional investors have recently added to or reduced their stakes in the stock. SageView Advisory Group LLC bought a new position in shares of Infinera during the 1st quarter worth approximately $39,000. EverSource Wealth Advisors LLC bought a new stake in shares of Infinera in the 2nd quarter worth about $104,000. Headlands Technologies LLC acquired a new stake in shares of Infinera during the 2nd quarter worth about $112,000. Algert Global LLC bought a new position in Infinera during the 2nd quarter valued at about $128,000. Finally, Palumbo Wealth Management LLC grew its stake in Infinera by 8.4% during the third 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. 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.