Dark Forest Capital Management LP Reduces Stock Position in Infinera Co. (NASDAQ:INFN)

Dark Forest Capital Management LP decreased its position in Infinera Co. (NASDAQ:INFN) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,707 shares of the communications equipment provider’s stock after selling 2,020 shares during the quarter. Dark Forest Capital Management LP’s holdings in Infinera were worth $333,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kovack Advisors Inc. raised its position in Infinera by 39.4% during the 1st quarter. Kovack Advisors Inc. now owns 548,500 shares of the communications equipment provider’s stock valued at $3,307,000 after purchasing an additional 154,904 shares during the last quarter. Vanguard Group Inc. lifted its stake in Infinera by 9.3% in the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider’s stock worth $163,108,000 after acquiring an additional 2,299,025 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Infinera in the first quarter valued at $627,000. Susquehanna Fundamental Investments LLC purchased a new position in Infinera during the 1st quarter valued at $759,000. Finally, AMH Equity Ltd bought a new position in Infinera in the 1st quarter worth $1,990,000. 97.54% of the stock is owned by institutional investors.

Infinera Stock Performance

Shares of INFN stock opened at $6.78 on Friday. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -19.94 and a beta of 1.71. The company has a debt-to-equity ratio of 5.02, a quick ratio of 0.94 and a current ratio of 1.57. Infinera Co. has a one year low of $2.82 and a one year high of $6.92. The company’s 50-day moving average is $6.18 and its 200 day moving average is $5.68.

Infinera (NASDAQ:INFN) last announced its quarterly earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $342.70 million during the quarter, compared to the consensus estimate of $331.71 million. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. Sell-side analysts expect that Infinera Co. will post -0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on INFN. Craig Hallum reiterated a “hold” rating and set a $6.65 price target (down previously from $12.00) on shares of Infinera in a research report on Monday, July 1st. Rosenblatt Securities lowered Infinera from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $8.00 to $6.65 in a research report on Monday, August 5th. StockNews.com began coverage on Infinera in a research report on Friday. They set a “sell” rating on the stock. Berenberg Bank upgraded Infinera to a “hold” rating in a report on Monday, August 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of Infinera in a report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.