Infinera (NASDAQ:INFN) Cut to “Hold” at B. Riley

B. Riley cut shares of Infinera (NASDAQ:INFN) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

INFN has been the subject of a number of other reports. StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research note on Thursday. Berenberg Bank upgraded shares of Infinera to a “hold” rating in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $6.65 price objective on shares of Infinera in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.09.

Infinera Stock Performance

INFN remained flat at $6.65 on Wednesday. 784,164 shares of the company were exchanged, compared to its average volume of 1,073,420. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.94 and a current ratio of 1.58. Infinera has a 1-year low of $3.61 and a 1-year high of $6.92. The stock has a market capitalization of $1.57 billion, a P/E ratio of -13.85 and a beta of 1.71. The business has a 50-day moving average of $6.65 and a 200 day moving average of $5.98.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. SageView Advisory Group LLC bought a new stake in shares of Infinera during the first quarter valued at approximately $39,000. EverSource Wealth Advisors LLC purchased a new position in shares of Infinera during the second quarter valued at about $104,000. Headlands Technologies LLC purchased a new position in shares of Infinera during the second quarter valued at about $112,000. Algert Global LLC purchased a new stake in shares of Infinera in the second quarter worth about $128,000. Finally, Palumbo Wealth Management LLC boosted its stake in Infinera by 8.4% during 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. Institutional investors 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.