Atria Investments Inc Sells 2,452 Shares of Infinera Co. (NASDAQ:INFN)

Atria Investments Inc decreased its holdings in shares of Infinera Co. (NASDAQ:INFN) by 15.1% during the third quarter, HoldingsChannel reports. The firm owned 13,763 shares of the communications equipment provider’s stock after selling 2,452 shares during the period. Atria Investments Inc’s holdings in Infinera were worth $93,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new position in shares of Infinera in the 2nd quarter worth $104,000. Headlands Technologies LLC bought a new position in Infinera in the second quarter worth about $112,000. Algert Global LLC bought a new position in Infinera in the second quarter worth about $128,000. Palumbo Wealth Management LLC lifted its position in shares of Infinera by 8.4% during the third 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 last quarter. Finally, Creative Planning boosted its holdings in shares of Infinera by 87.3% in the 3rd quarter. Creative Planning now owns 30,443 shares of the communications equipment provider’s stock valued at $205,000 after buying an additional 14,193 shares in the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

Infinera Stock Up 0.5 %

Infinera stock opened at $6.64 on Monday. The business’s 50-day simple moving average is $6.71 and its two-hundred day simple moving average is $6.11. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58. The company has a market cap of $1.57 billion, a PE ratio of -13.83 and a beta of 1.71. Infinera Co. has a fifty-two week low of $3.79 and a fifty-two week high of $6.92.

Infinera (NASDAQ:INFN) last issued 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 during the quarter, compared to analysts’ expectations of $401.96 million. Equities analysts anticipate that Infinera Co. will post -0.22 EPS for the current year.

Analyst Upgrades and Downgrades

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

Infinera 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.