Red Spruce Capital LLC Lowers Position in Infinera Co. (NASDAQ:INFN)

Red Spruce Capital LLC trimmed its position in shares of Infinera Co. (NASDAQ:INFN) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,836 shares of the communications equipment provider’s stock after selling 8,218 shares during the quarter. Red Spruce Capital LLC’s holdings in Infinera were worth $564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in Infinera during the third quarter worth about $40,000. EverSource Wealth Advisors LLC purchased a new position in shares of Infinera in the 2nd quarter worth approximately $104,000. Algert Global LLC bought a new position in shares of Infinera in the second quarter valued at approximately $128,000. Palumbo Wealth Management LLC increased 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 acquiring an additional 1,850 shares during the last quarter. Finally, Creative Planning increased its position in shares of Infinera by 87.3% during the third quarter. Creative Planning now owns 30,443 shares of the communications equipment provider’s stock valued at $205,000 after acquiring an additional 14,193 shares during the last quarter. Institutional investors own 97.54% of the company’s stock.

Infinera Trading Up 0.3 %

NASDAQ INFN opened at $6.61 on Wednesday. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97. The company’s 50 day moving average is $6.60 and its 200-day moving average is $6.44. Infinera Co. has a 12-month low of $4.41 and a 12-month high of $6.92.

Infinera (NASDAQ:INFN) last posted its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). The company had revenue of $354.40 million for the quarter, compared to analysts’ expectations of $401.96 million. Infinera had a negative return on equity of 45.12% and a negative net margin of 7.62%. Equities research analysts predict that Infinera Co. will post -0.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. StockNews.com upgraded Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. B. Riley downgraded shares of Infinera from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $6.65 target price on shares of Infinera in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Infinera currently 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.