In yesterday’s Wall Street session, Infinera Corp. (NASDAQ:INFN) shares traded at $6.10, down -0.33% from the previous session.
INFN stock price is now 10.78% away from the 50-day moving average and 27.01% away from the 200-day moving average. The market capitalization of the company currently stands at $1.43B.
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On September 28, 2023, Stifel recently initiated its ‘Buy’ rating on the stock quoting a target price of $7, while ‘Jefferies’ rates the stock as ‘Hold’
In other news, Fernicola Michael H, Chief Accounting Officer bought 4,000 shares of the company’s stock on Aug 17 ’23. The stock was bought for $16,000 at an average price of $4.00. Upon completion of the transaction, the Chief Accounting Officer now directly owns 111,558 shares in the company, valued at $0.68 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 16 ’23, Chief Accounting Officer Fernicola Michael H bought 6,500 shares of the business’s stock. A total of $25,350 was incurred on buying the stock at an average price of $3.90. This leaves the insider owning 107,558 shares of the company worth $0.66 million. A total of 1.56% of the company’s stock is owned by insiders.
During the past 12 months, Infinera Corp. has had a low of $2.82 and a high of $6.62. As of last week, the company has a debt-to-equity ratio of 4.60, a current ratio of 1.65, and a quick ratio of 0.97. The fifty day moving average price for INFN is $5.5232 and a two-hundred day moving average price translates $4.8137 for the stock.
The latest earnings results from Infinera Corp. (NASDAQ: INFN) was released for 2024-03-30. The net profit margin was -5.11% and return on equity was -44.97% for INFN. The company reported revenue of $306.92 million for the quarter, compared to $392.07 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -21.72 percent.
