Downgrade Alert for Infinera (INFN)
Infinera (NASDAQ:INFN) was downgraded from Buy to Hold at Jefferies today. The stock closed yesterday at $8.31 on volume of 21.1 million shares, above average daily volume of 3.1 million.
Infinera share prices have moved between a 52-week high of $25.24 and a 52-week low of $4.33 and closed yesterday at 92% above that low price at $8.31 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 1.8%.
Infinera Corporation manufactures digital optical telecommunications equipment. The Company uses photonic integrated circuits to create digital optical networks. Infinera markets its products to carriers, data service providers, and cable operators.
Infinera has overhead space with shares priced $8.31, or 68.5% below the average consensus analyst price target of $26.40. The stock should find initial resistance at its 50-day moving average (MA) of $14.98 and further resistance at its 200-day MA of $18.35.
SmarTrend is monitoring the recent change of momentum in Infinera. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Infinera in search of a potential trend change.
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