On a relative basis, the stock has outperformed the S&P 500 by 3.5% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.08% in the last 1 week, and is up 10.49% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Infinera Corporation (NASDAQ:INFN): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $12.08 and $11.98 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $12.21. The buying momentum continued till the end and the stock did not give up its gains. It closed at $12.11, notching a gain of 0.08% for the day. The total traded volume was 1,494,607 . The stock had closed at $12.10 on the previous day.
The stock has recorded a 20-day Moving Average of 6.17% and the 50-Day Moving Average is 0.09%. Infinera Corporation has dropped 17.39% during the last 3-month period . Year-to-Date the stock performance stands at -33.17%.
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.