Infinera Co. (NASDAQ:INFN – Get Free Report)’s stock price shot up 7.3% on Wednesday . The company traded as high as $5.48 and last traded at $5.47. 815,988 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 3,001,176 shares. The stock had previously closed at $5.10.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on INFN. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $10.00 price objective on shares of Infinera in a research note on Thursday, March 7th. StockNews.com downgraded shares of Infinera from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. Finally, B. Riley reiterated a “buy” rating and issued a $7.50 target price on shares of Infinera in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.85.
Check Out Our Latest Stock Analysis on INFN
Infinera Stock Performance
Infinera (NASDAQ:INFN – Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter. Infinera had a negative net margin of 0.28% and a positive return on equity of 1.73%. The firm had revenue of $392.37 million for the quarter. On average, analysts anticipate that Infinera Co. will post -0.06 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Infinera
Large investors have recently bought and sold shares of the company. Clear Street Markets LLC purchased a new stake in Infinera in the first quarter valued at approximately $39,000. Tower Research Capital LLC TRC boosted its position in Infinera by 85.4% in the first quarter. Tower Research Capital LLC TRC now owns 5,291 shares of the communications equipment provider’s stock valued at $41,000 after buying an additional 2,437 shares during the last quarter. US Bancorp DE boosted its position in Infinera by 186.8% in the fourth quarter. US Bancorp DE now owns 9,681 shares of the communications equipment provider’s stock valued at $46,000 after buying an additional 6,306 shares during the last quarter. Partners Capital Investment Group LLP purchased a new stake in Infinera in the fourth quarter valued at approximately $48,000. Finally, Stephens Inc. AR purchased a new stake in Infinera in the 2nd quarter worth approximately $49,000. Hedge funds and other 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.
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