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

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.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $267.50 million during the quarter, compared to the consensus estimate of $273.18 million. Extreme Networks had a positive return on equity of 6.55% and a negative net margin of 8.31%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 EPS. On average, analysts expect that Extreme Networks, Inc will post 0.07 earnings per share for the current year.

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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