Infinera (NASDAQ:INFN) Stock Price Up 7.3%

Infinera Co. (NASDAQ:INFN)’s share price rose 7.3% on Wednesday . The company traded as high as $5.48 and last traded at $5.47. Approximately 815,988 shares changed hands during trading, a decline of 73% from the average daily volume of 3,001,176 shares. The stock had previously closed at $5.10.

Analysts Set New Price Targets

INFN has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $10.00 target price on shares of Infinera in a report on Thursday, March 7th. StockNews.com cut shares of Infinera from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Finally, B. Riley reissued a “buy” rating and issued a $7.50 price target on shares of Infinera in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Infinera has a consensus rating of “Moderate Buy” and a consensus target price of $6.85.

Infinera Price Performance

The stock’s 50 day moving average price is $5.10 and its 200-day moving average price is $4.44. The company has a quick ratio of 0.95, a current ratio of 1.69 and a debt-to-equity ratio of 3.63.

Infinera (NASDAQ:INFN) last announced 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 company had revenue of $392.37 million during the quarter. As a group, equities research analysts forecast that Infinera Co. will post -0.06 EPS for the current year.

Institutional Investors Weigh In On Infinera

Institutional investors have recently made changes to their positions in the business. Shapiro Capital Management LLC boosted its position in Infinera by 26.5% during the 2nd quarter. Shapiro Capital Management LLC now owns 18,977,889 shares of the communications equipment provider’s stock valued at $91,663,000 after buying an additional 3,972,597 shares during the period. Millennium Management LLC raised its holdings in Infinera by 595.5% in the 4th quarter. Millennium Management LLC now owns 4,287,440 shares of the communications equipment provider’s stock worth $28,897,000 after purchasing an additional 3,671,019 shares in the last quarter. Paradigm Capital Management Inc. NY raised its holdings in Infinera by 108.3% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 4,778,300 shares of the communications equipment provider’s stock worth $23,079,000 after purchasing an additional 2,484,300 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Infinera by 166.7% in the 1st quarter. Two Sigma Advisers LP now owns 2,553,200 shares of the communications equipment provider’s stock worth $19,813,000 after purchasing an additional 1,595,700 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in Infinera by 69.0% in the 1st quarter. Two Sigma Investments LP now owns 3,228,098 shares of the communications equipment provider’s stock worth $25,050,000 after purchasing an additional 1,318,417 shares in the last quarter. Hedge funds and other 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.