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.
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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