Infinera (NASDAQ:INFN) Stock Price Passes Above 200-Day Moving Average – Here’s Why

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.

Wall Street Analysts Forecast Growth

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

Infinera Trading Down 0.7 %

The company’s 50 day simple moving average is $6.57 and its 200 day simple moving average 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. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -19.82 and a beta of 1.72.

Infinera (NASDAQ:INFN) last released its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm had revenue of $342.70 million during the quarter, compared to analysts’ expectations of $331.71 million. Infinera had a negative return on equity of 31.63% and a negative net margin of 7.10%. Infinera’s revenue was down 8.9% compared to the same quarter last year. As a group, research analysts expect that Infinera Co. will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Infinera

Several hedge funds have recently added to or reduced their stakes in the company. Kovack Advisors Inc. increased its position in shares of Infinera by 39.4% in the 1st quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock valued at $3,307,000 after purchasing an additional 154,904 shares during the last quarter. Vanguard Group Inc. increased its holdings in Infinera by 9.3% in the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock valued at $163,108,000 after buying an additional 2,299,025 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Infinera in the first quarter valued at $627,000. Susquehanna Fundamental Investments LLC purchased a new stake in Infinera during the 1st quarter worth about $759,000. Finally, AMH Equity Ltd acquired a new position in shares of Infinera during the 1st quarter worth about $1,990,000. 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.