Infinera Corp. (NASDAQ:INFN)’s share price fell 2.2% during trading on Thursday . The stock traded as low as $8.86 and last traded at $8.89, with a volume of 1,998,355 shares changing hands. The stock had previously closed at $9.09.

Several research firms recently commented on INFN. Zacks Investment Research upgraded Infinera Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. B. Riley downgraded Infinera Corp. to a “neutral” rating and set a $10.50 price objective on the stock. in a research note on Tuesday, August 2nd. Deutsche Bank AG dropped their price objective on Infinera Corp. from $23.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. MKM Partners dropped their price objective on Infinera Corp. from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, July 28th. Finally, Jefferies Group downgraded Infinera Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Twelve equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $16.27.

The company’s 50-day moving average price is $10.56 and its 200-day moving average price is $13.13. The stock has a market cap of $1.28 billion and a price-to-earnings ratio of 29.64.

Infinera Corp. (NASDAQ:INFN) last issued its earnings results on Wednesday, July 27th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The company earned $258.82 million during the quarter, compared to analysts’ expectations of $255.83 million. During the same quarter in the prior year, the business posted $0.18 EPS. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. Equities analysts forecast that Infinera Corp. will post $0.43 EPS for the current year.

In other Infinera Corp. news, Director John Daane purchased 12,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were acquired at an average price of $8.49 per share, for a total transaction of $101,880.00. Following the purchase, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $101,880. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas J. Fallon purchased 100,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were acquired at an average price of $8.54 per share, for a total transaction of $854,000.00. The disclosure for this purchase can be found here.

Several hedge funds and institutional investors have modified their holdings of INFN. Trexquant Investment LP acquired a new position in shares of Infinera Corp. during the fourth quarter valued at $2,735,000. Coe Capital Management LLC boosted its position in shares of Infinera Corp. by 27.5% in the fourth quarter. Coe Capital Management LLC now owns 175,390 shares of the company’s stock valued at $3,178,000 after buying an additional 37,836 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Infinera Corp. by 73.6% in the fourth quarter. Marshall Wace LLP now owns 244,156 shares of the company’s stock valued at $4,424,000 after buying an additional 103,545 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its position in shares of Infinera Corp. by 0.3% in the fourth quarter. King Luther Capital Management Corp now owns 1,417,325 shares of the company’s stock valued at $25,682,000 after buying an additional 4,245 shares in the last quarter.

Infinera Corporation is a provider of optical transport networking systems to service providers. The Company operates through optical transport networking systems segment. The Company serves Tier 1 and Tier 2 telecommunications service providers, Internet content providers, cable operators, wholesale and enterprise carriers, research and education institutions and government entities around the world.

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