Wealthfront Advisers LLC Takes $76,000 Position in Infinera Co. (NASDAQ:INFN)

Wealthfront Advisers LLC acquired a new stake in Infinera Co. (NASDAQ:INFN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,599 shares of the communications equipment provider’s stock, valued at approximately $76,000.

Several other hedge funds have also recently bought and sold shares of INFN. Citigroup Inc. increased its stake in Infinera by 2,104.8% in the 3rd quarter. Citigroup Inc. now owns 2,915,001 shares of the communications equipment provider’s stock valued at $19,676,000 after purchasing an additional 2,782,789 shares in the last quarter. Alpine Associates Management Inc. purchased a new position in Infinera in the 3rd quarter valued at approximately $13,761,000. Sand Grove Capital Management LLP purchased a new position in Infinera in the 3rd quarter valued at approximately $12,517,000. ABC Arbitrage SA purchased a new position in Infinera in the 4th quarter valued at approximately $2,306,000. Finally, Janus Henderson Group PLC increased its stake in Infinera by 332.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,520 shares of the communications equipment provider’s stock valued at $2,364,000 after purchasing an additional 269,372 shares in the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Infinera in a research note on Wednesday, March 12th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.09.

Infinera Stock Performance

Infinera stock opened at $6.64 on Wednesday. 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 stock has a fifty day moving average of $6.63 and a two-hundred day moving average of $6.63. The company 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 fifty-two week low of $4.49 and a fifty-two week high of $6.92.

Infinera (NASDAQ:INFN) last released its quarterly earnings results on Thursday, March 6th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.15). The company had revenue of $414.39 million for the quarter, compared to analysts’ expectations of $409.08 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. On average, analysts anticipate that Infinera Co. will post -0.33 EPS for the current fiscal year.

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.