Infinera (NASDAQ:INFN) Stock Passes Above 200 Day Moving Average – What’s Next?

Infinera Co. (NASDAQ:INFN) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.35 and traded as high as $6.61. Infinera shares last traded at $6.59, with a volume of 358,512 shares changing hands.

Wall Street Analyst Weigh In

INFN has been the subject of a number of recent analyst reports. StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $6.65 price target on shares of Infinera in a research report on Wednesday, November 6th. Finally, B. Riley lowered Infinera from a “strong-buy” rating to a “hold” rating in a 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’s stock. According to MarketBeat, Infinera has an average rating of “Hold” and a consensus price target of $7.09.

Infinera Trading Up 0.3 %

The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97. The firm has a fifty day simple moving average of $6.63 and a two-hundred day simple moving average of $6.36. The firm has a market capitalization of $1.56 billion, a P/E ratio of -13.73 and a beta of 1.64.

Infinera (NASDAQ:INFN) last posted its quarterly 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 return on equity of 45.12% and a negative net margin of 7.62%. The firm had revenue of $354.40 million for the quarter, compared to the consensus estimate of $401.96 million. On average, equities research analysts anticipate that Infinera Co. will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Infinera

A number of large investors have recently modified their holdings of INFN. Tidal Investments LLC raised its holdings in shares of Infinera by 4.9% in the 3rd quarter. Tidal Investments LLC now owns 128,883 shares of the communications equipment provider’s stock valued at $870,000 after acquiring an additional 6,066 shares in the last quarter. Geode Capital Management LLC raised its stake in Infinera by 1.0% in the third quarter. Geode Capital Management LLC now owns 4,829,486 shares of the communications equipment provider’s stock valued at $32,605,000 after purchasing an additional 47,925 shares in the last quarter. Sand Grove Capital Management LLP bought a new stake in Infinera during the third quarter valued at approximately $12,517,000. Janus Henderson Group PLC grew its stake in Infinera by 332.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,520 shares of the communications equipment provider’s stock worth $2,364,000 after buying an additional 269,372 shares in the last quarter. Finally, Bardin Hill Management Partners LP bought a new position in shares of Infinera in the 3rd quarter worth $1,576,000. 97.54% of the stock is currently owned by institutional investors.

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.