Infinera (NASDAQ:INFN) Sees Large Volume Increase

Infinera Co. (NASDAQ:INFN) saw unusually-high trading volume on Tuesday . Approximately 5,463,324 shares were traded during mid-day trading, an increase of 19% from the previous session’s volume of 4,586,373 shares.The stock last traded at $6.68 and had previously closed at $6.70.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on INFN. Needham & Company LLC restated a “hold” rating on shares of Infinera in a report on Friday, June 28th. Rosenblatt Securities cut Infinera from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $8.00 to $6.65 in a research report on Monday, August 5th. Craig Hallum restated a “hold” rating and set a $6.65 target price (down previously from $12.00) on shares of Infinera in a research note on Monday, July 1st. StockNews.com initiated coverage on shares of Infinera in a research note on Thursday. They issued a “sell” rating on the stock. Finally, Morgan Stanley upped their target price on shares of Infinera from $5.40 to $6.65 and gave the company an “equal weight” rating in a report on Friday, June 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Infinera presently has an average rating of “Hold” and an average price target of $7.09.

Infinera Price Performance

The company’s 50-day simple moving average is $6.08 and its 200-day simple moving average is $5.59. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57. The company has a market capitalization of $1.57 billion, a PE ratio of -19.59 and a beta of 1.71.

Infinera (NASDAQ:INFN) last released its quarterly 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 firm had revenue of $342.70 million for the quarter, compared to analyst estimates of $331.71 million. The company’s quarterly revenue was down 8.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Infinera Co. will post -0.17 earnings per share for the current year.

Institutional Trading of Infinera

Hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in Infinera by 23.2% in the fourth quarter. Victory Capital Management Inc. now owns 30,100 shares of the communications equipment provider’s stock worth $143,000 after acquiring an additional 5,661 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Infinera by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,576,725 shares of the communications equipment provider’s stock valued at $7,489,000 after acquiring an additional 35,676 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Infinera by 1.2% during the 4th quarter. BNP Paribas Financial Markets now owns 641,719 shares of the communications equipment provider’s stock worth $3,048,000 after acquiring an additional 7,370 shares in the last quarter. Aigen Investment Management LP grew its holdings in shares of Infinera by 138.1% in the 4th quarter. Aigen Investment Management LP now owns 64,881 shares of the communications equipment provider’s stock worth $308,000 after acquiring an additional 37,634 shares during the period. Finally, RPO LLC purchased a new position in Infinera in the 4th quarter valued at approximately $82,000. Hedge funds and other institutional investors 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.