Extreme Networks (NASDAQ:EXTR) Shares Gap Up to $2.71

Extreme Networks, Inc (NASDAQ:EXTR)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $2.64, but opened at $2.71. Extreme Networks shares last traded at $3.13, with a volume of 2,217,501 shares trading hands.

A number of analysts have recently commented on EXTR shares. BidaskClub downgraded Extreme Networks from a “hold” rating to a “sell” rating in a research note on Sunday. TheStreet downgraded Extreme Networks from a “c-” rating to a “d+” rating in a research report on Tuesday, March 3rd. ValuEngine downgraded Extreme Networks from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Finally, Zacks Investment Research raised Extreme Networks from a “sell” rating to a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $8.88.

The company has a debt-to-equity ratio of 8.00, a current ratio of 0.99 and a quick ratio of 0.80. The stock has a market cap of $322.35 million, a price-to-earnings ratio of -4.41 and a beta of 1.84. The firm has a fifty day moving average of $4.02 and a 200 day moving average of $6.29.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $267.50 million during the quarter, compared to analysts’ expectations of $273.18 million. Extreme Networks had a positive return on equity of 6.55% and a negative net margin of 8.31%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 earnings per share. Research analysts anticipate that Extreme Networks, Inc will post 0.07 earnings per share for the current fiscal year.

In other news, Director John C. Shoemaker purchased 25,000 shares of the stock in a transaction dated Monday, February 10th. The stock was acquired at an average cost of $6.08 per share, for a total transaction of $152,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.62% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its holdings in Extreme Networks by 1,343.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,682 shares of the technology company’s stock valued at $27,000 after purchasing an additional 3,427 shares during the period. Tradewinds Capital Management LLC acquired a new stake in Extreme Networks in the fourth quarter valued at $50,000. Envestnet Asset Management Inc. acquired a new stake in Extreme Networks in the fourth quarter valued at $78,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in Extreme Networks by 70.6% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 11,610 shares of the technology company’s stock valued at $86,000 after buying an additional 4,806 shares in the last quarter. Finally, LS Investment Advisors LLC raised its stake in Extreme Networks by 389.7% in the fourth quarter. LS Investment Advisors LLC now owns 16,137 shares of the technology company’s stock valued at $119,000 after buying an additional 12,842 shares in the last quarter. Hedge funds and other institutional investors own 84.30% of the company’s stock.

Extreme Networks Company Profile (NASDAQ:EXTR)

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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