Kovack Advisors Inc. Buys 154,904 Shares of Infinera Co. (NASDAQ:INFN)

Kovack Advisors Inc. lifted its stake in Infinera Co. (NASDAQ:INFN) by 39.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 548,500 shares of the communications equipment provider’s stock after acquiring an additional 154,904 shares during the period. Kovack Advisors Inc. owned 0.24% of Infinera worth $3,307,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Partners Capital Investment Group LLP bought a new position in Infinera in the 4th quarter worth approximately $48,000. Worth Venture Partners LLC bought a new position in Infinera in the 4th quarter worth approximately $53,000. Ironwood Investment Counsel LLC bought a new position in Infinera in the 4th quarter worth approximately $56,000. SG Americas Securities LLC bought a new position in Infinera in the 4th quarter worth approximately $81,000. Finally, RPO LLC bought a new position in Infinera in the 4th quarter worth approximately $82,000. 97.54% of the stock is owned by institutional investors.

Infinera Price Performance

INFN stock traded up $0.06 during trading on Thursday, hitting $6.26. The company had a trading volume of 7,623,704 shares, compared to its average volume of 5,429,452. The company has a fifty day moving average price of $5.36 and a two-hundred day moving average price of $5.15. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.65 and a quick ratio of 0.97. Infinera Co. has a fifty-two week low of $2.82 and a fifty-two week high of $6.62.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.07). Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. The business had revenue of $306.92 million during the quarter, compared to the consensus estimate of $337.73 million. On average, analysts expect that Infinera Co. will post -0.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Infinera in a research report on Friday, June 28th. Craig Hallum reissued a “hold” rating and set a $6.65 price objective (down previously from $12.00) on shares of Infinera in a report on Monday. Stifel Nicolaus reissued a “buy” rating and set a $7.00 price objective on shares of Infinera in a report on Wednesday, May 15th. Morgan Stanley lifted their price objective on Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a report on Friday, June 28th. Finally, B. Riley reissued a “buy” rating and set a $9.00 price objective on shares of Infinera in a report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.55.

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.