Shares of Infinera Corp. (NASDAQ:INFN) gapped up before the market opened on Wednesday . The stock had previously closed at $3.46, but opened at $3.33. Infinera shares last traded at $3.22, with a volume of 976926 shares changing hands.

Several analysts have recently weighed in on the company. Zacks Investment Research downgraded Infinera from a “strong-buy” rating to a “hold” rating in a research note on Saturday, March 2nd. ValuEngine upgraded Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, March 7th. Northland Securities restated a “buy” rating and set a $7.00 target price on shares of Infinera in a research note on Sunday, April 21st. MKM Partners upgraded Infinera from a “sell” rating to a “neutral” rating and raised their target price for the company from $4.25 to $6.00 in a research note on Monday, February 25th. Finally, BidaskClub downgraded Infinera from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target 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 stock has a market capitalization of $574.23 million, a P/E ratio of -4.92 and a beta of 0.62.

Infinera (NASDAQ:INFN) last issued its quarterly earnings results on Wednesday, May 8th. The communications equipment provider reported ($0.23) EPS for the quarter, topping the 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 analysts’ expectations of $311.11 million. During the same quarter last year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up 45.8% compared to the same quarter last year. Sell-side analysts predict that Infinera Corp. will post -0.9 earnings per share for the current fiscal year.

In related news, CEO Thomas J. Fallon purchased 50,000 shares of Infinera stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average price of $3.32 per share, with a total value of $166,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marcel Gani purchased 100,000 shares of Infinera stock in a transaction dated Tuesday, May 14th. The shares were bought at an average cost of $3.15 per share, for a total transaction of $315,000.00. Following the transaction, the director now directly owns 222,281 shares of the company’s stock, valued at approximately $700,185.15. The disclosure for this purchase can be found here. Company insiders own 2.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its holdings in Infinera by 0.6% in the first quarter. FMR LLC now owns 26,354,780 shares of the communications equipment provider’s stock worth $114,380,000 after acquiring an additional 150,000 shares during the last quarter. Oaktree Capital Management LP bought a new position in Infinera in the fourth quarter worth about $83,692,000. Vanguard Group Inc. lifted its holdings in Infinera by 6.9% in the third quarter. Vanguard Group Inc. now owns 14,318,728 shares of the communications equipment provider’s stock worth $104,526,000 after acquiring an additional 918,279 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Infinera by 10.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,103,477 shares of the communications equipment provider’s stock worth $26,489,000 after acquiring an additional 566,834 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Infinera by 0.8% in the fourth quarter. Fisher Asset Management LLC now owns 5,965,897 shares of the communications equipment provider’s stock worth $23,804,000 after acquiring an additional 49,125 shares during the last quarter. 84.16% of the stock is currently owned by hedge funds and other institutional investors.

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Infinera Company Profile (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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