Extreme Networks Sees Unusually High Options Volume (NASDAQ:EXTR)

Extreme Networks, Inc (NASDAQ:EXTR) was the recipient of some unusual options trading activity on Tuesday. Traders bought 10,779 put options on the company. This is an increase of 3,863% compared to the average volume of 272 put options.

Institutional investors have recently added to or reduced their stakes in the company. Menta Capital LLC bought a new position in shares of Extreme Networks during the fourth quarter worth about $180,000. Boston Advisors LLC acquired a new stake in Extreme Networks in the first quarter worth about $2,092,000. Rhumbline Advisers lifted its holdings in Extreme Networks by 21.9% in the fourth quarter. Rhumbline Advisers now owns 330,507 shares of the technology company’s stock worth $2,016,000 after purchasing an additional 59,484 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Extreme Networks by 285.7% in the first quarter. Assenagon Asset Management S.A. now owns 692,828 shares of the technology company’s stock worth $5,189,000 after purchasing an additional 513,187 shares during the period. Finally, Meeder Asset Management Inc. lifted its holdings in Extreme Networks by 438.4% in the first quarter. Meeder Asset Management Inc. now owns 3,467 shares of the technology company’s stock worth $26,000 after purchasing an additional 2,823 shares during the period. Institutional investors and hedge funds own 80.89% of the company’s stock.

Several equities analysts have weighed in on the stock. BidaskClub upgraded shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 2nd. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded shares of Investar from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Tuesday, June 4th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $9.00.

Shares of NASDAQ EXTR traded up $0.13 during trading on Thursday, reaching $7.00. 758,710 shares of the stock were exchanged, compared to its average volume of 1,372,849. The company has a quick ratio of 1.10, a current ratio of 1.29 and a debt-to-equity ratio of 1.37. The business’s 50-day moving average price is $6.08. The company has a market cap of $821.75 million, a P/E ratio of 15.91 and a beta of 1.57. Extreme Networks has a twelve month low of $4.81 and a twelve month high of $9.08.

Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $250.90 million during the quarter, compared to analyst estimates of $253.49 million. Extreme Networks had a negative net margin of 1.41% and a positive return on equity of 26.15%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Equities analysts anticipate that Extreme Networks will post 0.08 earnings per share for the current year.

Extreme Networks Company Profile

Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.

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