StockNews.com Upgrades Extreme Networks (NASDAQ:EXTR) to Buy

Extreme Networks (NASDAQ:EXTR) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Several other research firms have also commented on EXTR. Craig Hallum upped their price objective on Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Rosenblatt Securities restated a “buy” rating and issued a $21.00 price target on shares of Extreme Networks in a research report on Wednesday, November 6th. Finally, B. Riley lifted their price objective on Extreme Networks from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Extreme Networks Stock Up 0.1 %

Shares of EXTR stock opened at $17.74 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. Extreme Networks has a 12 month low of $10.49 and a 12 month high of $19.24. The stock has a market cap of $2.34 billion, a P/E ratio of -18.29, a P/E/G ratio of 3.87 and a beta of 1.76. The company has a 50 day simple moving average of $16.25 and a two-hundred day simple moving average of $14.70.

Insider Activity

In related news, Director Raj Khanna sold 10,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $16.53, for a total transaction of $165,300.00. Following the completion of the transaction, the director now directly owns 228,733 shares of the company’s stock, valued at approximately $3,780,956.49. This trade represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction on Friday, November 1st. The shares were sold at an average price of $14.96, for a total transaction of $534,446.00. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,667,734.88. This represents a 2.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,450 shares of company stock worth $1,390,490 over the last ninety days. Corporate insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Extreme Networks in the third quarter worth about $26,000. GAMMA Investing LLC raised its holdings in shares of Extreme Networks by 109.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,035 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Extreme Networks by 1,635.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock worth $67,000 after acquiring an additional 4,709 shares in the last quarter. KBC Group NV boosted its position in shares of Extreme Networks by 54.3% during the 3rd quarter. KBC Group NV now owns 4,959 shares of the technology company’s stock valued at $75,000 after acquiring an additional 1,745 shares during the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in shares of Extreme Networks in the second quarter valued at $148,000. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Company Profile

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.