Extreme Networks, Inc. (NASDAQ:EXTR) Short Interest Update

Extreme Networks, Inc. (NASDAQ:EXTR) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 6,210,000 shares, a decline of 8.9% from the September 30th total of 6,820,000 shares. Based on an average daily trading volume, of 1,230,000 shares, the short-interest ratio is currently 5.0 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities upped their target price on shares of Extreme Networks from $17.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and set a $16.50 price target on shares of Extreme Networks in a research report on Thursday, August 8th. B. Riley lifted their price objective on shares of Extreme Networks from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Craig Hallum increased their target price on shares of Extreme Networks from $17.00 to $22.50 and gave the stock a “buy” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Insider Buying and Selling

In other Extreme Networks news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $14.75, for a total transaction of $526,943.75. Following the sale, the chief executive officer now directly owns 1,448,378 shares in the company, valued at $21,363,575.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Extreme Networks

A number of hedge funds have recently made changes to their positions in EXTR. Andina Capital Management LLC raised its position in shares of Extreme Networks by 3.8% during the 2nd quarter. Andina Capital Management LLC now owns 19,610 shares of the technology company’s stock worth $264,000 after buying an additional 719 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Extreme Networks by 109.5% during the third quarter. GAMMA Investing LLC now owns 1,980 shares of the technology company’s stock valued at $30,000 after acquiring an additional 1,035 shares during the period. Louisiana State Employees Retirement System raised its holdings in Extreme Networks by 2.5% during the second quarter. Louisiana State Employees Retirement System now owns 65,400 shares of the technology company’s stock worth $880,000 after purchasing an additional 1,600 shares in the last quarter. ProShare Advisors LLC lifted its position in Extreme Networks by 7.3% in the first quarter. ProShare Advisors LLC now owns 25,502 shares of the technology company’s stock worth $294,000 after purchasing an additional 1,741 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Extreme Networks by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,433 shares of the technology company’s stock valued at $867,000 after purchasing an additional 1,749 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Performance

EXTR traded up $0.16 during trading on Friday, reaching $15.09. 1,441,911 shares of the company were exchanged, compared to its average volume of 1,870,505. Extreme Networks has a 52 week low of $10.49 and a 52 week high of $18.77. The company has a current ratio of 0.91, a quick ratio of 0.63 and a debt-to-equity ratio of 5.33. The firm has a 50 day moving average of $14.88 and a 200 day moving average of $13.29. The stock has a market cap of $1.99 billion, a P/E ratio of -15.56, a PEG ratio of 3.67 and a beta of 1.76.

Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). The firm had revenue of $256.65 million during the quarter, compared to analyst estimates of $253.21 million. Extreme Networks had a negative return on equity of 80.55% and a negative net margin of 12.11%. The firm’s revenue was down 29.5% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. On average, sell-side analysts forecast that Extreme Networks will post 0.25 EPS for the current fiscal year.

Extreme Networks Company Profile

Extreme Networks, Inc delivers cloud-driven networking solutions that leverage the powers of machine learning, artificial intelligence, analytics, and automation.
The company designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls.