5 Best Single Digit Stocks to Buy Now

3. Infinera Corporation (NASDAQ:INFN)

Number of Hedge Fund Holders: 21

Infinera Corporation (NASDAQ:INFN) is an American telecommunications company that manufactures digital optical telecommunications equipment by using photonic integrated circuits. The company uses simplified and modular approaches to deliver innovations, revolutionizing the telecommunications industry. Infinera Corporation (NASDAQ:INFN) stands third on our list of the best single digit stocks to buy now.

In May, Needham & Company LLC lifted its price target on Infinera Corporation (NASDAQ:INFN) to $15 with a ‘Buy’ rating on the shares. In the same month, Wolfe Research analyst Jeff Kvaal noted that the company will benefit from its commercial 800G shipments. The firm upgraded Infinera Corporation (NASDAQ:INFN) to ‘Peer Perform’. In Q2 2021, the company posted an EPS of -$0.03, beating the consensus by $0.02. Infinera Corporation (NASDAQ:INFN) generated revenue of $338.2 million, up 1.7% from the prior-year quarter. The stock gained 36.7% in the past year.

As of Q2 2021, 21 hedge funds tracked by Insider Monkey have positions in Infinera Corporation (NASDAQ:INFN), worth $428.2 million. This number of hedge funds is compared to 20 funds in the previous quarter, with a total value of $372.7 million.