One68 Global Capital LLC Makes New Investment in Infinera Co. (NASDAQ:INFN)

One68 Global Capital LLC bought a new position in Infinera Co. (NASDAQ:INFN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 695,000 shares of the communications equipment provider’s stock, valued at approximately $4,566,000. Infinera makes up about 2.4% of One68 Global Capital LLC’s investment portfolio, making the stock its 8th largest holding.

A number of other institutional investors have also recently made changes to their positions in INFN. Vestcor Inc bought a new position in Infinera during the fourth quarter valued at about $34,000. LPL Financial LLC purchased a new stake in Infinera in the fourth quarter valued at approximately $70,000. Wealthfront Advisers LLC purchased a new stake in Infinera in the fourth quarter valued at approximately $76,000. Cibc World Markets Corp purchased a new stake in Infinera in the fourth quarter valued at approximately $124,000. Finally, Mariner LLC raised its stake in Infinera by 23.2% in the fourth quarter. Mariner LLC now owns 23,450 shares of the communications equipment provider’s stock valued at $154,000 after purchasing an additional 4,422 shares in the last quarter. Institutional investors own 97.54% of the company’s stock.

Infinera Price Performance

Shares of NASDAQ INFN opened at $6.64 on Wednesday. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.63. Infinera Co. has a 12 month low of $4.75 and a 12 month high of $6.92. The firm’s 50 day simple moving average is $6.64 and its 200-day simple moving average is $6.64. 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) last announced its earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.15). The business had revenue of $414.39 million for the quarter, compared to analysts’ expectations of $409.08 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. Analysts expect that Infinera Co. will post -0.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Infinera in a report on Tuesday. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.