205,593 Shares in Infinera Co. (NASDAQ:INFN) Purchased by Olympiad Research LP

Olympiad Research LP acquired a new stake in Infinera Co. (NASDAQ:INFN - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 205,593 shares of the communications equipment provider's stock, valued at approximately $1,388,000. Infinera comprises 0.9% of Olympiad Research LP's portfolio, making the stock its 23rd biggest position. Olympiad Research LP owned about 0.09% of Infinera at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in INFN. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Infinera in the first quarter valued at $627,000. GSA Capital Partners LLP increased its position in shares of Infinera by 14.1% during the first quarter. GSA Capital Partners LLP now owns 145,808 shares of the communications equipment provider's stock worth $879,000 after purchasing an additional 17,985 shares in the last quarter. AMH Equity Ltd purchased a new stake in shares of Infinera in the 1st quarter valued at about $1,990,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Infinera in the 1st quarter valued at about $759,000. Finally, ProShare Advisors LLC boosted its position in shares of Infinera by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider's stock valued at $216,000 after purchasing an additional 2,821 shares during the period. Institutional investors and hedge funds own 97.54% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on INFN shares. B. Riley reduced their price objective on Infinera from $9.00 to $6.65 and set a "buy" rating for the company in a research note on Monday, August 5th. StockNews.com downgraded shares of Infinera from a "hold" rating to a "sell" rating in a research report on Monday, October 21st. JPMorgan Chase & Co. raised their price objective on shares of Infinera from $5.00 to $6.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 6th. Berenberg Bank upgraded shares of Infinera to a "hold" rating in a research note on Monday, August 5th. Finally, Rosenblatt Securities reiterated a "neutral" rating and set a $6.65 target price on shares of Infinera in a research note on Wednesday. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Infinera has an average rating of "Hold" and an average target price of $7.09.

Infinera Price Performance

Shares of NASDAQ INFN traded down $0.05 during trading on Thursday, hitting $6.65. 1,083,036 shares of the company were exchanged, compared to its average volume of 5,057,482. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.57 and a quick ratio of 0.94. Infinera Co. has a 1 year low of $3.07 and a 1 year high of $6.92. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -14.56 and a beta of 1.71. The firm's fifty day moving average price is $6.63 and its 200 day moving average price is $5.97.

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.