Infinera (NASDAQ:INFN) Sees Strong Trading Volume – Still a Buy?

Infinera Co. (NASDAQ:INFN) shares saw strong trading volume on Thursday . 1,078,915 shares changed hands during trading, an increase of 85% from the previous session’s volume of 584,415 shares.The stock last traded at $6.64 and had previously closed at $6.61.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on INFN shares. StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. B. Riley cut shares of Infinera from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $6.65 target price on shares of Infinera in a research report on Wednesday, November 6th. One investment 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.09.

Infinera Stock Up 0.5 %

The firm has a market capitalization of $1.57 billion, a PE ratio of -13.83 and a beta of 1.64. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. The firm’s 50 day moving average price is $6.60 and its two-hundred day moving average price is $6.46.

Infinera (NASDAQ:INFN) last announced its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The business had revenue of $354.40 million for the quarter, compared to analyst estimates of $401.96 million. As a group, research analysts forecast that Infinera Co. will post -0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Infinera

Several institutional investors and hedge funds have recently bought and sold shares of INFN. Sand Grove Capital Management LLP acquired a new stake in shares of Infinera during the 3rd quarter worth approximately $12,517,000. Janus Henderson Group PLC lifted its stake in Infinera by 332.0% in the third quarter. Janus Henderson Group PLC now owns 350,520 shares of the communications equipment provider’s stock valued at $2,364,000 after buying an additional 269,372 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Infinera during the third quarter valued at $556,000. Harbor Capital Advisors Inc. increased its holdings in shares of Infinera by 20.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 50,074 shares of the communications equipment provider’s stock worth $329,000 after acquiring an additional 8,363 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Infinera by 33.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 114,994 shares of the communications equipment provider’s stock valued at $776,000 after purchasing an additional 29,083 shares during the last quarter. Institutional investors and hedge funds 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.