GSA Capital Partners LLP Decreases Stake in Infinera Co. (NASDAQ:INFN)

GSA Capital Partners LLP trimmed its position in shares of Infinera Co. (NASDAQ:INFN - Free Report) by 63.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 166,322 shares of the communications equipment provider's stock after selling 293,385 shares during the period. GSA Capital Partners LLP owned about 0.07% of Infinera worth $1,123,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. SageView Advisory Group LLC bought a new position in Infinera during the 1st quarter valued at about $39,000. EverSource Wealth Advisors LLC bought a new position in Infinera in the 2nd quarter worth about $104,000. Headlands Technologies LLC bought a new position in Infinera in the 2nd quarter worth about $112,000. Algert Global LLC bought a new position in Infinera in the 2nd quarter worth about $128,000. Finally, Palumbo Wealth Management LLC grew its stake in Infinera by 8.4% in the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider's stock worth $162,000 after acquiring an additional 1,850 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors.

Infinera Stock Performance

NASDAQ:INFN opened at $6.64 on Friday. Infinera Co. has a 52 week low of $3.79 and a 52 week high of $6.92. The firm has a 50 day moving average of $6.68 and a 200 day moving average of $6.03. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97.

Infinera (NASDAQ:INFN - Get Free Report) last posted its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.07). Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. The firm had revenue of $354.40 million for the quarter, compared to analysts' expectations of $401.96 million. As a group, research analysts predict that Infinera Co. will post -0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. B. Riley downgraded shares of Infinera from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Rosenblatt Securities restated a "neutral" rating and issued a $6.65 target price on shares of Infinera in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their target price on shares of Infinera from $5.00 to $6.00 and gave the stock an "underweight" rating in a research note on Tuesday, August 6th. Berenberg Bank upgraded shares of Infinera to a "hold" rating in a research note on Monday, August 5th. Finally, StockNews.com upgraded shares of Infinera from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $7.09.

Infinera Company 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.