Infinera (NASDAQ:INFN) Shares Gap Up to $5.01

Infinera Co. (NASDAQ:INFN - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $5.01, but opened at $5.36. Infinera shares last traded at $5.72, with a volume of 514,885 shares.

Analyst Ratings Changes

Several research analysts have recently issued reports on INFN shares. Stifel Nicolaus restated a "buy" rating and issued a $7.00 target price on shares of Infinera in a report on Monday, April 1st. StockNews.com lowered Infinera from a "hold" rating to a "sell" rating in a research note on Friday, February 23rd. B. Riley reissued a "buy" rating and set a $7.50 price objective on shares of Infinera in a research report on Thursday, March 7th. Finally, Needham & Company LLC started coverage on Infinera in a research report on Monday, April 22nd. They set a "buy" rating and a $10.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.02.

Infinera Trading Up 15.8 %

The firm has a 50-day moving average price of $5.14 and a 200-day moving average price of $4.77. The stock has a market cap of $1.34 billion, a PE ratio of -188.00 and a beta of 1.63. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.95 and a current ratio of 1.69.

Infinera (NASDAQ:INFN - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported $0.02 EPS for the quarter. Infinera had a positive return on equity of 1.73% and a negative net margin of 0.28%. The company had revenue of $392.37 million during the quarter.

Institutional Investors Weigh In On Infinera

A number of large investors have recently made changes to their positions in the company. FMR LLC grew its stake in shares of Infinera by 0.6% during the 3rd quarter. FMR LLC now owns 34,038,565 shares of the communications equipment provider's stock valued at $142,281,000 after purchasing an additional 196,237 shares during the period. Vanguard Group Inc. grew its stake in shares of Infinera by 9.3% during the 1st quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider's stock valued at $163,108,000 after purchasing an additional 2,299,025 shares during the period. Shapiro Capital Management LLC grew its stake in shares of Infinera by 1.5% during the 3rd quarter. Shapiro Capital Management LLC now owns 19,271,676 shares of the communications equipment provider's stock valued at $80,556,000 after purchasing an additional 293,787 shares during the period. Brown Advisory Inc. lifted its position in shares of Infinera by 8.0% during the 4th quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider's stock valued at $71,335,000 after buying an additional 1,108,567 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY lifted its position in shares of Infinera by 3.1% during the 3rd quarter. Paradigm Capital Management Inc. NY now owns 4,927,700 shares of the communications equipment provider's stock valued at $20,598,000 after buying an additional 149,400 shares in the last quarter. 97.54% of the stock is currently owned by 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.