StockNews.com Upgrades Infinera (NASDAQ:INFN) to “Hold”

Infinera (NASDAQ:INFN) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

Other equities analysts have also recently issued reports about the stock. B. Riley lowered their price target on shares of Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a research note on Monday, August 5th. Berenberg Bank raised shares of Infinera to a “hold” rating in a research note on Monday, August 5th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $6.65 price target on shares of Infinera in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Infinera from $5.00 to $6.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.09.

Infinera Stock Performance

Infinera stock traded down $0.05 during trading hours on Thursday, reaching $6.65. 1,083,054 shares of the stock were exchanged, compared to its average volume of 5,057,482. The stock has a market cap of $1.57 billion, a P/E ratio of -14.46 and a beta of 1.71. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57. Infinera has a 52-week low of $3.07 and a 52-week high of $6.92. The firm’s 50 day moving average is $6.63 and its 200 day moving average is $5.97.

Institutional Investors Weigh In On Infinera

Hedge funds have recently modified their holdings of the company. SageView Advisory Group LLC purchased a new position in Infinera in the first quarter valued at approximately $39,000. EverSource Wealth Advisors LLC acquired a new position in Infinera in the second quarter worth $104,000. Headlands Technologies LLC acquired a new position in Infinera in the second quarter worth $112,000. Algert Global LLC acquired a new position in Infinera in the second quarter worth $128,000. Finally, Palumbo Wealth Management LLC lifted its stake in 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 buying an additional 1,850 shares during the last quarter. 97.54% of the stock is owned by institutional investors and hedge funds.

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.