Infinera Co. (NASDAQ:INFN - Get Free Report) dropped 7.2% on Tuesday . The company traded as low as $6.01 and last traded at $6.03. Approximately 1,165,258 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 3,266,337 shares. The stock had previously closed at $6.50.
Wall Street Analyst Weigh In
INFN has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a "strong-buy" rating and issued a $10.00 price objective on shares of Infinera in a research note on Thursday, March 7th. B. Riley reissued a "buy" rating and set a $7.50 price target on shares of Infinera in a research note on Thursday, March 7th. StockNews.com lowered Infinera from a "hold" rating to a "sell" rating in a research note on Friday, February 23rd. Finally, Stifel Nicolaus reissued a "buy" rating and set a $7.00 price target on shares of Infinera in a research note on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.85.
View Our Latest Research Report on INFN
Infinera Stock Performance
The company has a debt-to-equity ratio of 3.63, a current ratio of 1.69 and a quick ratio of 0.95. The firm has a fifty day moving average price of $5.15 and a two-hundred day moving average price of $4.47. The stock has a market capitalization of $1.36 billion, a PE ratio of -197.33 and a beta of 1.58.
Infinera (NASDAQ:INFN - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 earnings per share for the quarter. Infinera had a positive return on equity of 1.73% and a negative net margin of 0.28%. The firm had revenue of $392.37 million for the quarter. Research analysts expect that Infinera Co. will post -0.06 EPS for the current year.
Institutional Investors Weigh In On Infinera
Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its holdings in Infinera by 0.6% during the 3rd quarter. FMR LLC now owns 34,038,565 shares of the communications equipment provider's stock worth $142,281,000 after purchasing an additional 196,237 shares during the period. Vanguard Group Inc. increased its holdings in Infinera by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 24,750,346 shares of the communications equipment provider's stock worth $117,564,000 after purchasing an additional 469,315 shares during the period. Shapiro Capital Management LLC increased its holdings in 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 worth $80,556,000 after purchasing an additional 293,787 shares during the period. Brown Advisory Inc. increased its holdings in Infinera by 8.0% during the 4th quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider's stock worth $71,335,000 after purchasing an additional 1,108,567 shares during the period. Finally, Paradigm Capital Management Inc. NY increased its holdings in 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 worth $20,598,000 after purchasing an additional 149,400 shares during the period. 97.54% of the stock is currently owned by hedge funds and other institutional investors.
Infinera Company Profile
(
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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.
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