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

Extreme Networks, Inc. (NASDAQ:EXTR) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 7,010,000 shares, a decrease of 9.5% from the August 31st total of 7,750,000 shares. Based on an average daily volume of 1,560,000 shares, the days-to-cover ratio is currently 4.5 days.

Analyst Upgrades and Downgrades

EXTR has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $16.50 price target on shares of Extreme Networks in a research note on Thursday, August 8th. Craig Hallum lifted their price objective on Extreme Networks from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.90.

Extreme Networks Trading Up 0.1 %

Shares of Extreme Networks stock traded up $0.01 during trading hours on Friday, reaching $15.10. 855,675 shares of the company’s stock were exchanged, compared to its average volume of 1,979,376. Extreme Networks has a 52-week low of $10.49 and a 52-week high of $25.51. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of -215.71, a price-to-earnings-growth ratio of 3.46 and a beta of 1.77. The company has a current ratio of 0.90, a quick ratio of 0.63 and a debt-to-equity ratio of 7.05. The company has a fifty day moving average of $14.40 and a 200-day moving average of $12.71.

Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, August 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Extreme Networks had a negative net margin of 7.69% and a negative return on equity of 24.51%. The business had revenue of $256.65 million during the quarter, compared to analyst estimates of $253.21 million. During the same quarter last year, the firm earned $0.24 earnings per share. Extreme Networks’s revenue was down 29.5% compared to the same quarter last year. Sell-side analysts forecast that Extreme Networks will post 0.25 EPS for the current fiscal year.

Insider Transactions at Extreme Networks

In other news, CEO Edward Meyercord sold 35,725 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total transaction of $536,589.50. Following the completion of the sale, the chief executive officer now owns 1,448,378 shares in the company, valued at $21,754,637.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Extreme Networks

Several institutional investors have recently bought and sold shares of EXTR. Acadian Asset Management LLC purchased a new position in Extreme Networks in the 1st quarter worth approximately $27,000. Hennessy Advisors Inc. purchased a new stake in shares of Extreme Networks during the fourth quarter worth about $82,000. Allspring Global Investments Holdings LLC grew its holdings in Extreme Networks by 1,635.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock valued at $67,000 after buying an additional 4,709 shares in the last quarter. Gladius Capital Management LP purchased a new position in Extreme Networks during the 2nd quarter valued at approximately $90,000. Finally, Grizzlyrock Capital LLC purchased a new position in shares of Extreme Networks in the 4th quarter worth approximately $176,000. Institutional investors own 91.05% of the company’s stock.

About Extreme Networks

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.