Infinera Corporation (NASDAQ:INFN) has tumbled 4.26% during the past week and has dropped 1.62% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 3.11%. Infinera Corporation (NASDAQ:INFN) has underperformed the index by 2.52% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Infinera Corporation (NASDAQ:INFN): The stock opened at $12.42 on Friday but the bulls could not build on the opening and the stock topped out at $12.50 for the day. The stock traded down to $12.10 during the day, due to lack of any buying support eventually closed down at $12.15 with a loss of -2.02% for the day. The stock had closed at $12.40 on the previous day. The total traded volume was 2,607,363 shares.
The company shares have dropped -46.55% from its 1 Year high price. On Aug 18, 2015, the shares registered one year high at $25.24 and the one year low was seen on May 3, 2016. The 50-Day Moving Average price is $12.51 and the 200 Day Moving Average price is recorded at $15.26.
On the companys insider trading activities, Feller Brad, CFO of Infinera Corp, executed a transaction worth $294,000 on May 3, 2016. A total of 25,000 shares were purchased at an average price of $11.76. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. Nomura initiates coverage on Infinera Corporation (NASDAQ:INFN) The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency announces the price target to $17 per share. The rating by the firm was issued on June 3, 2016. Currently the company Insiders own 2.9% of Infinera Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 40.57% . Institutional Investors own 74.13% of Infinera Corporation shares. During last six month period, the net percent change held by insiders has seen a change of 40.57%.
Infinera Corporation is engaged in optical transport networking systems. The Company provides optical transport networking equipment, software and services to Tier 1 and Tier 2 telecommunications service providers, Internet content providers (ICPs), cable operators, wholesale and enterprise carriers, research and education institutions and government entities around the world. The Companys technologies and platforms enable Service Providers to deliver bandwidth. The Company uses its large scale photonic integrated circuits (PICs) to deliver optical networking solutions for the network environments. Its product portfolio consists of the Infinera DTN-X and the Infinera DTN platforms targeted for long-haul and subsea networks and the Cloud Xpress and ATN platforms targeted for metro networks. It also provides software solutions to increase the efficiency and optimization of the network.