EverSource Wealth Advisors LLC Sells 10,000 Shares of Infinera Co. (NASDAQ:INFN)

EverSource Wealth Advisors LLC decreased its position in Infinera Co. (NASDAQ:INFN) by 57.1% during the 4th quarter, Holdings Channel reports. The firm owned 7,500 shares of the communications equipment provider’s stock after selling 10,000 shares during the period. EverSource Wealth Advisors LLC’s holdings in Infinera were worth $49,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in INFN. Alpine Associates Management Inc. bought a new position in shares of Infinera in the third quarter worth approximately $13,761,000. Intech Investment Management LLC bought a new position in shares of Infinera in the third quarter worth approximately $354,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Infinera by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,698,808 shares of the communications equipment provider’s stock worth $11,467,000 after purchasing an additional 39,917 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Infinera by 2,104.8% in the third quarter. Citigroup Inc. now owns 2,915,001 shares of the communications equipment provider’s stock worth $19,676,000 after purchasing an additional 2,782,789 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Infinera in the third quarter worth approximately $40,000. Institutional investors own 97.54% of the company’s stock.

Infinera Stock Performance

Shares of Infinera stock opened at $6.64 on Thursday. 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 $1.57 billion, a P/E ratio of -13.83 and a beta of 1.63. The business has a fifty day simple moving average of $6.63 and a two-hundred day simple moving average of $6.63. Infinera Co. has a 12 month low of $4.49 and a 12 month high of $6.92.

Infinera (NASDAQ:INFN) last announced its quarterly earnings data on Thursday, March 6th. The communications equipment provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.15). The firm 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%. On average, equities analysts forecast that Infinera Co. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Infinera in a research note on Thursday. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus 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.