Infinera (NASDAQ:INFN) Shares Down 3%

Infinera Co. (NASDAQ:INFN) shares dropped 3% during mid-day trading on Tuesday . The stock traded as low as $5.16 and last traded at $5.17. Approximately 597,912 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 2,999,685 shares. The stock had previously closed at $5.33.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “strong-buy” rating and set a $10.00 target price on shares of Infinera in a research report on Thursday, March 7th. StockNews.com lowered Infinera from a “hold” rating to a “sell” rating in a report on Friday, February 23rd. Finally, B. Riley restated a “buy” rating and issued a $7.50 price target on shares of Infinera in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.85.

Infinera Stock Performance

The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -194.67 and a beta of 1.56. The stock has a fifty day moving average price of $5.08 and a two-hundred day moving average price of $4.43. 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 released its earnings results on Thursday, February 29th. The communications equipment provider reported $0.02 EPS for the quarter. The firm had revenue of $392.37 million during the quarter. Infinera had a positive return on equity of 1.73% and a negative net margin of 0.28%. As a group, analysts forecast that Infinera Co. will post -0.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Infinera

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Infinera by 0.6% in the third quarter. FMR LLC now owns 34,038,565 shares of the communications equipment provider’s stock worth $142,281,000 after buying an additional 196,237 shares during the period. Vanguard Group Inc. boosted its position in shares of Infinera by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 24,750,346 shares of the communications equipment provider’s stock worth $117,564,000 after buying an additional 469,315 shares during the period. Shapiro Capital Management LLC boosted its position in shares of Infinera by 1.5% in the third quarter. Shapiro Capital Management LLC now owns 19,271,676 shares of the communications equipment provider’s stock worth $80,556,000 after buying an additional 293,787 shares during the period. Brown Advisory Inc. boosted its position in shares of Infinera by 8.0% in the fourth quarter. Brown Advisory Inc. now owns 15,017,956 shares of the communications equipment provider’s stock worth $71,335,000 after buying an additional 1,108,567 shares during the period. Finally, Paradigm Capital Management Inc. NY boosted its position in shares of Infinera by 3.1% in the third quarter. Paradigm Capital Management Inc. NY now owns 4,927,700 shares of the communications equipment provider’s stock worth $20,598,000 after buying an additional 149,400 shares during the period. 97.54% of the stock is currently owned by institutional investors and hedge funds.

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.