NEW ENTERPRISE ASSOCIATES 9 L P
recently revealed that they own 22.9% of Xtera Communications Inc (NASDAQ:XCOM) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Tuesday, October 4th. The investor owns 4,048,204 shares of the stock worth about $2,198,580. The reporting parties listed on the disclosure included New Enterprise Associates 9, Limited Partnership, NEA Partners 9, Limited Partnership, New Enterprise Associates 10, Limited Partnership, NEA Partners 10, Limited Partnership, M James Barrett, Peter J Barris and Scott D Sandell. The filing is available through EDGAR at this hyperlink.
Separately, Northpointe Capital LLC increased its position in shares of Xtera Communications by 17.2% in the second quarter. Northpointe Capital LLC now owns 619,872 shares of the company’s stock worth $558,000 after buying an additional 91,057 shares during the period.
Xtera Communications Inc (NASDAQ:XCOM) traded down 6.831% during trading on Tuesday, reaching $0.506. The company had a trading volume of 369,010 shares. The company has a 50-day moving average of $0.65 and a 200-day moving average of $1.56. The firm’s market capitalization is $8.72 million. Xtera Communications Inc has a 52-week low of $0.35 and a 52-week high of $5.86.
Xtera Communications (NASDAQ:XCOM) last posted its quarterly earnings results on Thursday, August 11th. The company reported ($1.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $1.02. The company earned $15.35 million during the quarter. The firm’s revenue for the quarter was down 67.3% on a year-over-year basis. Analysts expect that Xtera Communications Inc will post ($2.94) EPS for the current fiscal year.
Separately, Needham & Company LLC cut their target price on Xtera Communications from $5.00 to $2.50 and set a “buy” rating for the company in a research note on Tuesday, June 14th.
In related news, major shareholder Wellcome Trust Ltd (The) As Tr sold 2,472,813 shares of Xtera Communications stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $0.78, for a total value of $1,928,794.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
About Xtera Communications
Xtera Communications, Inc is a United States-based telecommunication infrastructure company. The Company is focused on supplying terrestrial and submarine optical backbones. It offers optical networking solutions for network and data center operators across the world. The Company’s portfolio encompasses optical layer equipment and the associated network management software suite, as well as the services to deploy and manage optical networks.
Want to see what other hedge funds are holding XCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Xtera Communications Inc (NASDAQ:XCOM).
Receive News & Ratings for Xtera Communications Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xtera Communications Inc and related companies with MarketBeat.com's FREE daily email newsletter.