Infinera Corp. (NASDAQ:INFN)’s share price traded up 9.9% during trading on Tuesday . The stock traded as high as $3.38 and last traded at $3.33. 3,750,095 shares traded hands during mid-day trading, an increase of 33% from the average session volume of 2,827,323 shares. The stock had previously closed at $3.03.

Several equities analysts have commented on the stock. BidaskClub upgraded shares of Infinera from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Northland Securities reiterated a “buy” rating and issued a $7.00 price objective on shares of Infinera in a report on Sunday, April 21st. ValuEngine downgraded shares of Infinera from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Zacks Investment Research upgraded shares of Infinera from a “hold” rating to a “strong-buy” rating and set a $6.00 price objective on the stock in a report on Wednesday, February 27th. Finally, MKM Partners upgraded shares of Infinera from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Monday, March 11th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Infinera has a consensus rating of “Hold” and an average target price of $7.58.

The company has a current ratio of 1.78, a quick ratio of 1.10 and a debt-to-equity ratio of 0.55. The company has a market cap of $576.01 million, a P/E ratio of -5.20 and a beta of 0.62.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Wednesday, May 8th. The communications equipment provider reported ($0.23) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.04. Infinera had a negative net margin of 29.68% and a negative return on equity of 20.02%. The business had revenue of $295.60 million for the quarter, compared to the consensus estimate of $311.11 million. During the same period in the prior year, the company posted ($0.05) earnings per share. Infinera’s revenue was up 45.8% compared to the same quarter last year. Equities research analysts forecast that Infinera Corp. will post -0.9 EPS for the current fiscal year.

In other Infinera news, Director Marcel Gani purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average cost of $3.15 per share, for a total transaction of $315,000.00. Following the completion of the purchase, the director now owns 222,281 shares of the company’s stock, valued at approximately $700,185.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas J. Fallon purchased 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was acquired at an average price of $3.32 per share, for a total transaction of $166,000.00. The disclosure for this purchase can be found here. Corporate insiders own 2.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in INFN. Oaktree Capital Management LP acquired a new stake in Infinera during the fourth quarter worth about $83,692,000. FMR LLC grew its stake in Infinera by 13.4% during the fourth quarter. FMR LLC now owns 26,204,780 shares of the communications equipment provider’s stock worth $104,557,000 after buying an additional 3,104,780 shares in the last quarter. Bank of America Corp DE grew its stake in Infinera by 65.2% during the fourth quarter. Bank of America Corp DE now owns 3,314,218 shares of the communications equipment provider’s stock worth $13,224,000 after buying an additional 1,307,780 shares in the last quarter. Elk Creek Partners LLC grew its stake in Infinera by 53.5% during the fourth quarter. Elk Creek Partners LLC now owns 3,608,233 shares of the communications equipment provider’s stock worth $14,397,000 after buying an additional 1,257,311 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Infinera by 361.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,231,400 shares of the communications equipment provider’s stock worth $4,913,000 after buying an additional 964,301 shares in the last quarter. Institutional investors and hedge funds own 83.15% of the company’s stock.

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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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