Tidal Investments LLC Buys 6,066 Shares of Infinera Co. (NASDAQ:INFN)

Tidal Investments LLC lifted its stake in Infinera Co. (NASDAQ:INFN) by 4.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 128,883 shares of the communications equipment provider’s stock after purchasing an additional 6,066 shares during the period. Tidal Investments LLC owned 0.05% of Infinera worth $870,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Palumbo Wealth Management LLC increased its stake in shares of Infinera by 8.4% in the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock valued at $162,000 after buying an additional 1,850 shares during the period. Arizona State Retirement System boosted its holdings in Infinera by 3.9% in the second quarter. Arizona State Retirement System now owns 58,308 shares of the communications equipment provider’s stock valued at $355,000 after acquiring an additional 2,180 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Infinera by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 102,869 shares of the communications equipment provider’s stock worth $626,000 after purchasing an additional 4,266 shares during the period. Quantbot Technologies LP bought a new stake in Infinera during the 3rd quarter worth about $40,000. Finally, Victory Capital Management Inc. lifted its position in Infinera by 7.9% during the 2nd quarter. Victory Capital Management Inc. now owns 144,794 shares of the communications equipment provider’s stock valued at $882,000 after purchasing an additional 10,546 shares during the period. Institutional investors own 97.54% of the company’s stock.

Infinera Price Performance

Shares of INFN stock opened at $6.60 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 4.98. Infinera Co. has a 12-month low of $4.18 and a 12-month high of $6.92. The firm has a fifty day moving average of $6.66 and a 200-day moving average of $6.26. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -13.75 and a beta of 1.67.

Infinera (NASDAQ:INFN) last posted its 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 business had revenue of $354.40 million during the quarter, compared to analyst estimates of $401.96 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. On average, equities research analysts forecast that Infinera Co. will post -0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on INFN shares. Rosenblatt Securities reiterated a “neutral” rating and set a $6.65 price target on shares of Infinera in a research report on Wednesday, November 6th. B. Riley lowered shares of Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, StockNews.com raised 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 assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.09.

About Infinera

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.