Rosenblatt Securities Reaffirms “Neutral” Rating for Infinera (NASDAQ:INFN)

Infinera (NASDAQ:INFN)‘s stock had its “neutral” rating reiterated by equities researchers at Rosenblatt Securities in a research note issued on Wednesday, Benzinga reports. They presently have a $6.65 target price on the communications equipment provider’s stock. Rosenblatt Securities’ price target points to a potential downside of 0.89% from the company’s current price.

Several other analysts have also recently weighed in on INFN. JPMorgan Chase & Co. increased their price target on shares of Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. B. Riley dropped their price target on shares of Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a research note on Monday, August 5th. StockNews.com cut shares of Infinera from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Finally, Berenberg Bank raised shares of Infinera to a “hold” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.09.

Infinera Stock Down 0.1 %

Shares of NASDAQ INFN opened at $6.71 on Wednesday. Infinera has a 12-month low of $2.98 and a 12-month high of $6.92. The stock has a market cap of $1.58 billion, a PE ratio of -14.59 and a beta of 1.71. The company has a current ratio of 1.57, a quick ratio of 0.94 and a debt-to-equity ratio of 5.02. The company has a 50-day moving average of $6.62 and a 200 day moving average of $5.96.

Hedge Funds Weigh In On Infinera

Several large investors have recently made changes to their positions in INFN. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Infinera in the 1st quarter worth approximately $627,000. GSA Capital Partners LLP lifted its holdings in Infinera by 14.1% during the 1st quarter. GSA Capital Partners LLP now owns 145,808 shares of the communications equipment provider’s stock worth $879,000 after buying an additional 17,985 shares in the last quarter. AMH Equity Ltd acquired a new stake in Infinera during the 1st quarter worth approximately $1,990,000. Susquehanna Fundamental Investments LLC acquired a new stake in Infinera during the 1st quarter worth approximately $759,000. Finally, ProShare Advisors LLC lifted its holdings in Infinera by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider’s stock worth $216,000 after buying an additional 2,821 shares in the last quarter. 97.54% of the stock is currently 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.