Atom Investors LP Has $155,000 Stock Holdings in Infinera Co. (NASDAQ:INFN)

Atom Investors LP lessened its position in shares of Infinera Co. (NASDAQ:INFN - Free Report) by 89.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,903 shares of the communications equipment provider's stock after selling 204,710 shares during the period. Atom Investors LP's holdings in Infinera were worth $155,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Infinera during the third quarter valued at about $40,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Infinera in the second quarter worth about $104,000. Headlands Technologies LLC purchased a new stake in shares of Infinera in the second quarter worth about $112,000. Algert Global LLC purchased a new stake in shares of Infinera in the second quarter worth about $128,000. Finally, Palumbo Wealth Management LLC boosted its position in shares of Infinera by 8.4% in the third quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider's stock worth $162,000 after buying an additional 1,850 shares during the period. Hedge funds and other institutional investors own 97.54% of the company's stock.

Wall Street Analyst Weigh In

INFN has been the subject of several analyst reports. B. Riley downgraded Infinera from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th. StockNews.com raised Infinera from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and issued a $6.65 target price on shares of Infinera in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $7.09.

Infinera Price Performance

NASDAQ INFN traded down $0.01 on Thursday, reaching $6.63. 577,489 shares of the stock traded hands, compared to its average volume of 4,715,400. The firm's fifty day simple moving average is $6.69 and its 200 day simple moving average is $6.18. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.67. Infinera Co. has a 12 month low of $4.18 and a 12 month high of $6.92.

Infinera (NASDAQ:INFN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.07). The firm had revenue of $354.40 million for the quarter, compared to the consensus estimate of $401.96 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. As a group, research analysts predict that Infinera Co. will post -0.25 EPS for the current fiscal year.

Infinera Profile

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.