Infinera (NASDAQ:INFN) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Infinera Co. (NASDAQ:INFN) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.35 and traded as high as $6.61. Infinera shares last traded at $6.59, with a volume of 358,512 shares trading hands.

Analyst Upgrades and Downgrades

INFN has been the subject of a number of analyst reports. B. Riley downgraded Infinera from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Rosenblatt Securities restated a “neutral” rating and set a $6.65 price target on shares of Infinera in a report on Wednesday, November 6th. Finally, StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Infinera presently has a consensus rating of “Hold” and an average price target of $7.09.

Infinera Price Performance

The business’s fifty day simple moving average is $6.63 and its 200 day simple moving average is $6.36. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -13.73 and a beta of 1.64. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97.

Infinera (NASDAQ:INFN) last issued its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07). The firm had revenue of $354.40 million during the quarter, compared to the consensus estimate of $401.96 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. On average, research analysts forecast that Infinera Co. will post -0.25 EPS for the current year.

Institutional Trading of Infinera

Several hedge funds have recently bought and sold shares of INFN. Quantbot Technologies LP bought a new position in shares of Infinera in the third quarter valued at $40,000. EverSource Wealth Advisors LLC bought a new position in Infinera in the 2nd quarter valued at about $104,000. Headlands Technologies LLC acquired a new position in Infinera during the 2nd quarter valued at about $112,000. Algert Global LLC purchased a new stake in shares of Infinera in the second quarter worth approximately $128,000. Finally, Palumbo Wealth Management LLC lifted its holdings in shares of Infinera by 8.4% in the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after purchasing an additional 1,850 shares in the last quarter. Institutional investors and hedge funds 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.