Infinera Corp. (NASDAQ:INFN) reached a new 52-week high on Friday . The stock traded as high as $6.92 and last traded at $6.82, with a volume of 72758 shares changing hands. The stock had previously closed at $6.60.
A number of brokerages recently weighed in on INFN. Rosenblatt Securities restated a “hold” rating and set a $6.00 price objective on shares of Infinera in a research report on Wednesday, November 13th. B. Riley reiterated a “buy” rating and issued a $8.40 target price on shares of Infinera in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised Infinera from an “underweight” rating to a “neutral” rating and set a $7.00 price target on the stock in a research note on Wednesday, November 13th. BidaskClub cut Infinera from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Infinera in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Infinera has a consensus rating of “Hold” and an average target price of $6.93.
The firm has a market capitalization of $1.19 billion, a P/E ratio of -10.61 and a beta of 0.60. The company has a 50-day moving average of $6.02 and a 200-day moving average of $4.67. The company has a current ratio of 1.47, a quick ratio of 0.89 and a debt-to-equity ratio of 0.90.
Institutional investors have recently bought and sold shares of the stock. Millennium Management LLC acquired a new position in shares of Infinera in the 3rd quarter valued at about $55,000. Point72 Asset Management L.P. acquired a new position in Infinera in the third quarter valued at approximately $56,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Infinera by 95.2% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,010 shares of the communications equipment provider’s stock valued at $66,000 after buying an additional 10,733 shares during the period. US Bancorp DE boosted its holdings in shares of Infinera by 20.1% during the 2nd quarter. US Bancorp DE now owns 24,211 shares of the communications equipment provider’s stock worth $70,000 after buying an additional 4,051 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Infinera during the 2nd quarter worth approximately $76,000. 84.45% of the stock is currently owned by institutional investors.
About Infinera (NASDAQ:INFN)
Infinera Corporation provides optical transport networking 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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