Olympiad Research LP Makes New Investment in Infinera Co. (NASDAQ:INFN)

Olympiad Research LP acquired a new stake in shares of Infinera Co. (NASDAQ:INFN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 205,593 shares of the communications equipment provider’s stock, valued at approximately $1,388,000. Infinera accounts for 0.9% of Olympiad Research LP’s investment portfolio, making the stock its 23rd largest holding. Olympiad Research LP owned approximately 0.09% of Infinera as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. SageView Advisory Group LLC bought a new position in shares of Infinera in the 1st quarter worth $39,000. 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 shares of Infinera in the 2nd quarter worth $112,000. Algert Global LLC bought a new position in shares of Infinera in the 2nd quarter worth $128,000. Finally, Palumbo Wealth Management LLC lifted its holdings in shares of Infinera by 8.4% in the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock worth $162,000 after purchasing an additional 1,850 shares in the last quarter. Institutional investors own 97.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. StockNews.com cut Infinera from a “hold” rating to a “sell” rating in a report on Monday, October 21st. JPMorgan Chase & Co. raised their price objective on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. Rosenblatt Securities restated a “neutral” rating and set a $6.65 price objective on shares of Infinera in a research note on Wednesday. B. Riley dropped their price objective on Infinera from $9.00 to $6.65 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, Berenberg Bank upgraded Infinera to a “hold” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.09.

Infinera Trading Down 0.1 %

NASDAQ INFN opened at $6.70 on Thursday. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -14.56 and a beta of 1.71. Infinera Co. has a one year low of $2.98 and a one year high of $6.92. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.57 and a quick ratio of 0.94. The business’s fifty day moving average is $6.63 and its 200-day moving average is $5.97.

Infinera Company 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.