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

Extreme Networks, Inc. (NASDAQ:EXTR) saw a large decrease in short interest in the month of 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 Ratings Changes

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

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 35,725 shares of Extreme Networks stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $15.02, for a total value of $536,589.50. Following the completion of the transaction, the chief executive officer now owns 1,448,378 shares in the company, valued at approximately $21,754,637.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EXTR. Acadian Asset Management LLC acquired a new position in shares of Extreme Networks during the 1st quarter worth $27,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Extreme Networks by 1,635.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,997 shares of the technology company’s stock valued at $67,000 after purchasing an additional 4,709 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Extreme Networks in the fourth quarter valued at approximately $82,000. Gladius Capital Management LP acquired a new position in shares of Extreme Networks during the 2nd quarter worth approximately $90,000. Finally, Narus Financial Partners LLC acquired a new stake in Extreme Networks during the 1st quarter valued at $130,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Extreme Networks Stock Performance

Shares of Extreme Networks stock traded down $0.26 during trading hours on Tuesday, hitting $14.77. 786,322 shares of the company were exchanged, compared to its average volume of 1,967,473. The business has a 50-day moving average of $14.42 and a 200-day moving average of $12.75. Extreme Networks has a 1 year low of $10.49 and a 1 year high of $25.51. 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 stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -212.57, a P/E/G ratio of 3.46 and a beta of 1.77.

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

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.