Infinera (NASDAQ:INFN) Rating Lowered to Strong Sell at BidaskClub

Infinera (NASDAQ:INFN) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Friday, September 14th.

Several other analysts also recently commented on the stock. ValuEngine downgraded shares of Infinera from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Zacks Investment Research downgraded shares of Infinera from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. B. Riley dropped their price objective on shares of Infinera from $10.00 to $9.50 and set a “neutral” rating on the stock in a report on Wednesday, August 8th. Rosenblatt Securities set a $13.00 price target on shares of Infinera and gave the stock a “buy” rating in a report on Tuesday, July 24th. Finally, MKM Partners lowered their price target on shares of Infinera to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, July 24th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Infinera currently has a consensus rating of “Hold” and an average price target of $10.72.

Shares of INFN stock traded down $0.18 during trading hours on Friday, hitting $6.10. The company’s stock had a trading volume of 2,434,797 shares, compared to its average volume of 1,862,398. The company has a market capitalization of $1.12 billion, a P/E ratio of -7.35 and a beta of 0.08. Infinera has a 12-month low of $5.85 and a 12-month high of $12.39.

Infinera (NASDAQ:INFN) last released its quarterly earnings data on Tuesday, August 7th. The communications equipment provider reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03. The business had revenue of $208.23 million for the quarter, compared to the consensus estimate of $208.96 million. Infinera had a negative net margin of 19.95% and a negative return on equity of 13.09%. During the same period in the prior year, the firm earned ($0.15) EPS. As a group, equities analysts forecast that Infinera will post -0.39 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in Infinera by 10.1% during the second quarter. Bank of New York Mellon Corp now owns 13,804,996 shares of the communications equipment provider’s stock valued at $137,084,000 after purchasing an additional 1,265,072 shares in the last quarter. Chicago Equity Partners LLC purchased a new position in Infinera during the second quarter valued at $1,229,000. Canada Pension Plan Investment Board lifted its holdings in Infinera by 582.9% during the second quarter. Canada Pension Plan Investment Board now owns 203,499 shares of the communications equipment provider’s stock valued at $2,021,000 after purchasing an additional 173,699 shares in the last quarter. Princeton Capital Management LLC lifted its holdings in Infinera by 40.7% during the second quarter. Princeton Capital Management LLC now owns 101,192 shares of the communications equipment provider’s stock valued at $1,005,000 after purchasing an additional 29,286 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Infinera during the second quarter valued at $1,038,000. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

About Infinera

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.

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