Infinera (NASDAQ:INFN) Upgraded at StockNews.com

StockNews.com upgraded shares of Infinera (NASDAQ:INFN) from a sell rating to a hold rating in a research note issued to investors on Thursday.

Other research analysts also recently issued research reports about the company. Berenberg Bank upgraded Infinera to a “hold” rating in a report on Monday, August 5th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $6.65 target price on shares of Infinera in a research note on Wednesday. B. Riley dropped their target price on Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. raised their price target on shares of Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average 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 price-to-earnings ratio of -13.85 and a beta of 1.71. The company has a 50 day moving average price of $6.65 and a 200 day moving average price of $5.99.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SageView Advisory Group LLC acquired a new position in Infinera during the first quarter worth $39,000. EverSource Wealth Advisors LLC acquired a new position in shares of Infinera during the 2nd quarter valued at about $104,000. Headlands Technologies LLC acquired a new position in shares of Infinera during the 2nd quarter valued at about $112,000. Algert Global LLC bought a new position in shares of Infinera in the 2nd quarter valued at approximately $128,000. Finally, Palumbo Wealth Management LLC lifted its holdings in Infinera by 8.4% in the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock worth $162,000 after purchasing an additional 1,850 shares during the last quarter. 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.