Extreme Networks, Inc (NASDAQ:EXTR) shares gapped up prior to trading 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.
Several brokerages have weighed in on EXTR. TheStreet downgraded Extreme Networks from a “c-” rating to a “d+” rating in a report on Tuesday, March 3rd. Zacks Investment Research upgraded Extreme Networks from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub downgraded Extreme Networks from a “hold” rating to a “sell” rating in a report on Sunday. Finally, ValuEngine downgraded Extreme Networks from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $8.88.
The firm has a market capitalization of $322.35 million, a price-to-earnings ratio of -4.41 and a beta of 1.84. The company has a debt-to-equity ratio of 8.00, a quick ratio of 0.80 and a current ratio of 0.99. The business has a fifty day moving average price of $4.02 and a 200 day moving average price of $6.29.
In other news, Director John C. Shoemaker acquired 25,000 shares of the company’s 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 filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.62% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in EXTR. FMR LLC boosted its position in Extreme Networks by 34.8% during the 4th quarter. FMR LLC now owns 5,377,425 shares of the technology company’s stock worth $39,632,000 after purchasing an additional 1,387,988 shares during the period. Schroder Investment Management Group boosted its position in Extreme Networks by 47.3% during the 4th quarter. Schroder Investment Management Group now owns 1,948,445 shares of the technology company’s stock worth $14,360,000 after purchasing an additional 625,668 shares during the period. Bank of Montreal Can boosted its position in Extreme Networks by 1,527.2% during the 4th quarter. Bank of Montreal Can now owns 645,734 shares of the technology company’s stock worth $4,759,000 after purchasing an additional 606,050 shares during the period. Knights of Columbus Asset Advisors LLC purchased a new stake in Extreme Networks during the 4th quarter worth $3,246,000. Finally, Renaissance Technologies LLC boosted its position in Extreme Networks by 8.8% during the 4th quarter. Renaissance Technologies LLC now owns 4,652,231 shares of the technology company’s stock worth $34,287,000 after purchasing an additional 374,983 shares during the period. Institutional investors and hedge funds own 84.30% of the company’s stock.
About Extreme Networks (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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