Tidal Investments LLC Has $870,000 Holdings in Infinera Co. (NASDAQ:INFN)

Tidal Investments LLC boosted its position in shares of Infinera Co. (NASDAQ:INFN) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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’s holdings in Infinera were worth $870,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in Infinera during the third quarter worth $40,000. EverSource Wealth Advisors LLC bought a new stake in Infinera during the 2nd quarter worth about $104,000. Headlands Technologies LLC acquired a new position in shares of Infinera during the 2nd quarter worth about $112,000. Algert Global LLC bought a new position in shares of Infinera in the 2nd quarter valued at about $128,000. Finally, Palumbo Wealth Management LLC increased 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 valued at $162,000 after acquiring an additional 1,850 shares during the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.

Infinera Stock Up 0.6 %

INFN stock opened at $6.60 on Friday. Infinera Co. has a 1-year low of $4.18 and a 1-year high of $6.92. The business’s 50 day simple moving average is $6.66 and its 200 day simple moving average is $6.26. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 4.98. The firm has a market capitalization of $1.56 billion, a PE ratio of -13.75 and a beta of 1.67.

Infinera (NASDAQ:INFN) last released its quarterly earnings data on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). The company 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%. As a group, research analysts anticipate that Infinera Co. will post -0.25 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on INFN. B. Riley lowered Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Rosenblatt Securities reissued a “neutral” rating and issued a $6.65 price objective on shares of Infinera in a report on Wednesday, November 6th. Finally, StockNews.com upgraded shares of Infinera from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Infinera has an average 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.