Infinera (NASDAQ:INFN) Stock Rating Lowered by B. Riley

by · The Markets Daily

Infinera (NASDAQ:INFN – Get Free Report) was downgraded by analysts at B. Riley from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

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

Read Our Latest Report on Infinera

Infinera Stock Performance

NASDAQ:INFN remained flat at $6.65 during trading hours on Wednesday. 784,164 shares of the company’s stock were exchanged, compared to its average volume of 1,073,420. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -13.85 and a beta of 1.71. 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’s 50 day simple moving average is $6.65 and its 200 day simple moving average is $5.98. Infinera has a fifty-two week low of $3.61 and a fifty-two week high of $6.92.

Hedge Funds Weigh In On Infinera

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SageView Advisory Group LLC purchased a new position in shares of Infinera in the 1st quarter worth $39,000. EverSource Wealth Advisors LLC bought a new stake in shares of Infinera in the 2nd quarter valued at approximately $104,000. Headlands Technologies LLC bought a new stake in shares of Infinera in the 2nd quarter valued at approximately $112,000. Algert Global LLC purchased a new position in shares of Infinera in the 2nd quarter worth approximately $128,000. Finally, Palumbo Wealth Management LLC increased its position in shares of Infinera by 8.4% during the 3rd 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 during the last quarter. Institutional investors own 97.54% of the company’s stock.

Infinera Company Profile

(Get Free Report)

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.

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