Infinera (NASDAQ:INFN) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Infinera (NASDAQ:INFN) in a research note released on Thursday. The brokerage issued a sell rating on the communications equipment provider’s stock.

Several other brokerages also recently weighed in on INFN. Rosenblatt Securities downgraded Infinera from a buy rating to a neutral rating and cut their price target for the company from $8.00 to $6.65 in a report on Monday, August 5th. Needham & Company LLC reiterated a hold rating on shares of Infinera in a research report on Friday, June 28th. B. Riley lowered their price target on Infinera from $9.00 to $6.65 and set a buy rating for the company in a report on Monday, August 5th. Berenberg Bank upgraded shares of Infinera to a hold rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Infinera from $5.00 to $6.00 and gave the stock an underweight rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $7.09.

Infinera Stock Up 0.1 %

Shares of NASDAQ:INFN opened at $6.70 on Thursday. The company has a market capitalization of $1.57 billion, a P/E ratio of -19.71 and a beta of 1.71. The stock’s fifty day simple moving average is $6.10 and its 200-day simple moving average is $5.61. Infinera has a 52-week low of $2.82 and a 52-week high of $6.76. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02.

Infinera (NASDAQ:INFN) last released its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $342.70 million for 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%. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. As a group, equities research analysts forecast that Infinera will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kovack Advisors Inc. lifted its holdings in shares of Infinera by 39.4% during the 1st quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock valued at $3,307,000 after acquiring an additional 154,904 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Infinera by 9.3% during the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock worth $163,108,000 after purchasing an additional 2,299,025 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Infinera in the first quarter worth about $627,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Infinera in the first quarter valued at about $759,000. Finally, AMH Equity Ltd purchased a new stake in shares of Infinera during the 1st quarter valued at about $1,990,000. 97.54% of the stock is owned by institutional investors and hedge funds.

Infinera Company Profile

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.