Infinera (NASDAQ:INFN) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Infinera (NASDAQ:INFN) from a hold rating to a sell rating in a research report report published on Monday.

INFN has been the subject of several other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Infinera in a research note on Friday, June 28th. Craig Hallum reaffirmed a “hold” rating and set a $6.65 price objective (down from $12.00) on shares of Infinera in a research note on Monday, July 1st. Morgan Stanley lifted their target price on Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a research report on Friday, June 28th. B. Riley decreased their target price on Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, Berenberg Bank upgraded Infinera to a “hold” rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Infinera has a consensus rating of “Hold” and a consensus price target of $7.09.

Infinera Trading Down 0.9 %

INFN stock opened at $6.69 on Monday. The firm has a fifty day moving average price of $6.47 and a 200 day moving average price of $5.83. Infinera has a fifty-two week low of $2.82 and a fifty-two week high of $6.92. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57. The firm has a market cap of $1.57 billion, a PE ratio of -19.68 and a beta of 1.72.

Infinera (NASDAQ:INFN) last posted its quarterly earnings data 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 company had revenue of $342.70 million during the quarter, compared to analyst estimates of $331.71 million. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. Infinera’s revenue was down 8.9% compared to the same quarter last year. Sell-side analysts anticipate that Infinera will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Infinera

Several institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning raised its holdings in shares of Infinera by 87.3% in the third quarter. Creative Planning now owns 30,443 shares of the communications equipment provider’s stock valued at $205,000 after acquiring an additional 14,193 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Infinera by 44.3% in the third quarter. Handelsbanken Fonder AB now owns 83,406 shares of the communications equipment provider’s stock valued at $563,000 after acquiring an additional 25,600 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Infinera in the third quarter valued at about $556,000. Water Island Capital LLC bought a new stake in shares of Infinera in the second quarter valued at about $9,196,000. Finally, Algert Global LLC bought a new stake in shares of Infinera in the second quarter valued at about $128,000. 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.