Extreme Networks (NASDAQ:EXTR) Trading Up 6.4%

Extreme Networks, Inc. (NASDAQ:EXTR)’s share price traded up 6.4% during trading on Thursday . The company traded as high as $14.87 and last traded at $14.73. 653,643 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 2,019,670 shares. The stock had previously closed at $13.84.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EXTR. Needham & Company LLC reaffirmed a “buy” rating and set a $16.50 target price on shares of Extreme Networks in a research report on Thursday, August 8th. Craig Hallum boosted their price target on shares of Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.90.

Extreme Networks Stock Performance

The company has a debt-to-equity ratio of 7.05, a current ratio of 0.90 and a quick ratio of 0.63. The company’s fifty day simple moving average is $14.02 and its two-hundred day simple moving average is $12.48. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -208.86, a P/E/G ratio of 3.16 and a beta of 1.77.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.21). Extreme Networks had a negative return on equity of 24.51% and a negative net margin of 7.69%. The firm had revenue of $256.65 million during the quarter, compared to the consensus estimate of $253.21 million. During the same quarter in the previous year, the company earned $0.24 EPS. The business’s revenue was down 29.5% compared to the same quarter last year. On average, analysts forecast that Extreme Networks, Inc. will post 0.25 earnings per share for the current year.

Insider Transactions at Extreme Networks

In related news, CEO Edward Meyercord sold 35,725 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $15.02, for a total transaction of $536,589.50. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,754,637.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.32% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Andina Capital Management LLC boosted its position in Extreme Networks by 3.8% during the second quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company’s stock worth $264,000 after purchasing an additional 719 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Extreme Networks by 2.5% in the second quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company’s stock worth $880,000 after buying an additional 1,600 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Extreme Networks by 7.3% in the first quarter. ProShare Advisors LLC now owns 25,502 shares of the technology company’s stock worth $294,000 after buying an additional 1,741 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Extreme Networks by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 64,433 shares of the technology company’s stock worth $867,000 after buying an additional 1,749 shares in the last quarter. Finally, Ensign Peak Advisors Inc lifted its holdings in shares of Extreme Networks by 4.9% in the second quarter. Ensign Peak Advisors Inc now owns 47,907 shares of the technology company’s stock worth $644,000 after buying an additional 2,250 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.

About Extreme Networks

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.