Infinera (NASDAQ:INFN) Sees Unusually-High Trading Volume – What’s Next?

Infinera Co. (NASDAQ:INFN) saw strong trading volume on Thursday . 1,078,915 shares changed hands during mid-day 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.

Analyst Ratings Changes

Several brokerages have weighed in on INFN. Rosenblatt Securities reissued a “neutral” rating and set a $6.65 price objective on shares of Infinera in a research note on Wednesday, November 6th. StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, B. Riley lowered Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. One 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 data from MarketBeat, Infinera currently has a consensus rating of “Hold” and an average target price of $7.09.

Infinera Stock Up 0.5 %

The business has a fifty day moving average price of $6.60 and a two-hundred day moving average price of $6.46. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.64. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97.

Infinera (NASDAQ:INFN) last released its quarterly earnings data on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $354.40 million during the quarter, compared to analysts’ expectations of $401.96 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. On average, equities analysts expect that Infinera Co. will post -0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new stake in Infinera in the 3rd quarter valued at about $40,000. Algert Global LLC acquired a new stake in shares of Infinera in the 2nd quarter valued at $128,000. Palumbo Wealth Management LLC lifted its stake in Infinera by 8.4% during the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock worth $162,000 after purchasing an additional 1,850 shares during the last quarter. Creative Planning increased its position in shares of Infinera by 87.3% during the third quarter. Creative Planning now owns 30,443 shares of the communications equipment provider’s stock worth $205,000 after purchasing an additional 14,193 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted 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 valued at $329,000 after purchasing an additional 8,363 shares during the last quarter. 97.54% of the stock is 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.