Infinera (NASDAQ:INFN) Shares Down 3.4%

Shares of Infinera Co. (NASDAQ:INFN - Get Free Report) dropped 3.4% on Monday . The stock traded as low as $5.58 and last traded at $5.60. Approximately 1,295,963 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 3,335,096 shares. The stock had previously closed at $5.80.

Analysts Set New Price Targets

INFN has been the subject of several analyst reports. Needham & Company LLC reissued a "strong-buy" rating and issued a $10.00 target price on shares of Infinera in a research note on Thursday, March 7th. StockNews.com downgraded shares of Infinera from a "hold" rating to a "sell" rating in a research note on Friday, February 23rd. Stifel Nicolaus reissued a "buy" rating and issued a $7.00 target price on shares of Infinera in a research note on Monday, April 1st. Finally, B. Riley reissued a "buy" rating and issued a $7.50 target price on shares of Infinera in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Infinera has an average rating of "Moderate Buy" and a consensus price target of $6.85.

Infinera Stock Down 6.2 %

The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.95 and a current ratio of 1.69. The company has a market cap of $1.26 billion, a PE ratio of -181.33 and a beta of 1.58. The firm has a fifty day simple moving average of $5.22 and a 200 day simple moving average of $4.53.

Infinera (NASDAQ:INFN - Get Free Report) last posted its quarterly earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 EPS for the quarter. The company had revenue of $392.37 million during the quarter. Infinera had a positive return on equity of 1.73% and a negative net margin of 0.28%. Equities research analysts predict that Infinera Co. will post -0.06 EPS for the current year.

Institutional Trading of Infinera

A number of institutional investors have recently modified their holdings of INFN. JPMorgan Chase & Co. grew its holdings in shares of Infinera by 6.3% during the 1st quarter. JPMorgan Chase & Co. now owns 480,957 shares of the communications equipment provider's stock worth $4,170,000 after purchasing an additional 28,537 shares during the period. MetLife Investment Management LLC grew its holdings in shares of Infinera by 55.1% during the 1st quarter. MetLife Investment Management LLC now owns 97,643 shares of the communications equipment provider's stock worth $847,000 after purchasing an additional 34,680 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Infinera by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,836,540 shares of the communications equipment provider's stock worth $33,263,000 after purchasing an additional 208,779 shares during the period. Mackenzie Financial Corp acquired a new position in Infinera during the 1st quarter worth approximately $89,000. Finally, XTX Topco Ltd acquired a new position in Infinera during the 1st quarter worth approximately $89,000. Hedge funds and other institutional investors own 97.54% of the company's stock.

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.