AIGH Capital Management LLC Has $20.52 Million Position in Infinera Co. (NASDAQ:INFN)

AIGH Capital Management LLC lifted its position in Infinera Co. (NASDAQ:INFN) by 278.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,368,556 shares of the communications equipment provider’s stock after buying an additional 2,479,272 shares during the period. Infinera comprises about 6.4% of AIGH Capital Management LLC’s investment portfolio, making the stock its 3rd biggest position. AIGH Capital Management LLC’s holdings in Infinera were worth $20,515,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in INFN. SageView Advisory Group LLC bought a new position in Infinera in the first quarter valued at $39,000. Partners Capital Investment Group LLP bought a new position in shares of Infinera during the 4th quarter valued at about $48,000. Worth Venture Partners LLC purchased a new position in shares of Infinera during the 4th quarter valued at about $53,000. Ironwood Investment Counsel LLC purchased a new position in shares of Infinera during the 4th quarter valued at about $56,000. Finally, RPO LLC bought a new stake in Infinera in the 4th quarter worth approximately $82,000. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on INFN shares. Stifel Nicolaus reissued a “buy” rating and set a $7.00 price target on shares of Infinera in a research note on Wednesday, May 15th. Craig Hallum reiterated a “hold” rating and issued a $6.65 target price (down previously from $12.00) on shares of Infinera in a research report on Monday, July 1st. Needham & Company LLC restated a “hold” rating on shares of Infinera in a research report on Friday, June 28th. Berenberg Bank upgraded Infinera to a “hold” rating in a report on Monday, August 5th. Finally, B. Riley dropped their target price on Infinera from $9.00 to $6.65 and set a “buy” rating for the company in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $7.09.

Infinera Trading Up 0.5 %

Shares of INFN stock opened at $6.24 on Monday. The stock has a fifty day moving average of $6.02 and a 200 day moving average of $5.51. Infinera Co. has a 52 week low of $2.82 and a 52 week high of $6.62. The company has a quick ratio of 0.94, a current ratio of 1.57 and a debt-to-equity ratio of 5.02.

Infinera (NASDAQ:INFN) last posted its earnings results on Friday, August 2nd. The communications equipment provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. Infinera had a negative net margin of 7.10% and a negative return on equity of 31.63%. The firm had revenue of $342.70 million during the quarter, compared to analysts’ expectations of $331.71 million. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. As a group, research analysts predict that Infinera Co. will post -0.17 earnings per share for the current fiscal year.

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.