Infinera’s (INFN) “Neutral” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reaffirmed their neutral rating on shares of Infinera (NASDAQ:INFN) in a research report report published on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a $6.65 price target on the communications equipment provider’s stock.

A number of other research analysts have also recently issued reports on the company. StockNews.com cut Infinera from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Berenberg Bank raised Infinera to a “hold” rating in a research note on Monday, August 5th. B. Riley decreased their price objective on Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. increased their price target on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.09.

Infinera Stock Performance

Shares of NASDAQ INFN remained flat at $6.65 during mid-day trading on Wednesday. The company had a trading volume of 784,164 shares, compared to its average volume of 1,073,420. Infinera has a 52 week low of $3.61 and a 52 week high of $6.92. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.94 and a current ratio of 1.58. The company has a 50 day moving average price of $6.65 and a 200-day moving average price of $5.98. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -13.85 and a beta of 1.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. SageView Advisory Group LLC bought a new position in Infinera in the 1st quarter worth about $39,000. EverSource Wealth Advisors LLC bought a new position in Infinera in the 2nd quarter worth about $104,000. Headlands Technologies LLC bought a new position in Infinera in the 2nd quarter worth about $112,000. Algert Global LLC bought a new position in Infinera in the 2nd quarter worth about $128,000. Finally, Palumbo Wealth Management LLC boosted its stake in Infinera by 8.4% in the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock worth $162,000 after purchasing an additional 1,850 shares during the period. Institutional investors own 97.54% of the company’s stock.

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.