Infinera (INFN) Downgraded by BidaskClub to “Strong Sell”

Infinera (NASDAQ:INFN) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday.

A number of other research analysts have also issued reports on INFN. ValuEngine upgraded Infinera from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. MKM Partners reduced their price objective on Infinera to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, July 24th. B. Riley reduced their price objective on Infinera from $10.00 to $9.50 and set a “neutral” rating for the company in a research note on Wednesday, August 8th. Rosenblatt Securities set a $13.00 price objective on Infinera and gave the company a “buy” rating in a research note on Tuesday, July 24th. Finally, Raymond James downgraded Infinera from a “market perform” rating to an “underperform” rating in a research note on Tuesday, July 24th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $10.97.

Shares of NASDAQ:INFN opened at $7.05 on Friday. Infinera has a 1 year low of $6.10 and a 1 year high of $12.39. The company has a market cap of $1.10 billion, a PE ratio of -8.49 and a beta of 0.14.

Infinera (NASDAQ:INFN) last announced its earnings results on Tuesday, August 7th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. Infinera had a negative return on equity of 13.09% and a negative net margin of 19.95%. The firm had revenue of $208.23 million for the quarter, compared to analyst estimates of $208.96 million. During the same quarter last year, the firm posted ($0.15) EPS. analysts expect that Infinera will post -0.38 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of INFN. Comerica Bank acquired a new stake in shares of Infinera in the 1st quarter worth $876,000. SG Americas Securities LLC increased its stake in shares of Infinera by 159.5% in the 1st quarter. SG Americas Securities LLC now owns 111,385 shares of the communications equipment provider’s stock worth $1,210,000 after acquiring an additional 68,468 shares during the last quarter. Trexquant Investment LP increased its stake in shares of Infinera by 188.0% in the 1st quarter. Trexquant Investment LP now owns 45,539 shares of the communications equipment provider’s stock worth $495,000 after acquiring an additional 29,726 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Infinera by 0.6% in the 1st quarter. Victory Capital Management Inc. now owns 2,324,856 shares of the communications equipment provider’s stock worth $25,248,000 after acquiring an additional 13,182 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Infinera by 4.6% in the 1st quarter. Swiss National Bank now owns 258,400 shares of the communications equipment provider’s stock worth $2,806,000 after acquiring an additional 11,400 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

Infinera Company Profile

Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.

Further Reading: How to calculate the intrinsic value of a stock

Analyst Recommendations for Infinera (NASDAQ:INFN)

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