Extreme Networks, Inc. (NASDAQ:EXTR) saw unusually large options trading on Wednesday. Stock investors purchased 1,634 call options on the stock. This is an increase of approximately Infinity compared to the typical daily volume of 0 call options.
Extreme Networks (EXTR) opened at $11.24 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.09 and a debt-to-equity ratio of 1.11. Extreme Networks has a twelve month low of $4.17 and a twelve month high of $13.20. The stock has a market capitalization of $1,274.84, a PE ratio of 26.14, a P/E/G ratio of 1.19 and a beta of 1.13.
Extreme Networks (NASDAQ:EXTR) last released its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.02. Extreme Networks had a return on equity of 46.58% and a net margin of 0.34%. The firm had revenue of $211.72 million for the quarter, compared to analyst estimates of $203.86 million. During the same quarter last year, the company posted $0.07 earnings per share. The business’s revenue was up 72.5% on a year-over-year basis. analysts expect that Extreme Networks will post 0.56 EPS for the current year.
In other Extreme Networks news, insider Edward Meyercord sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $10.52, for a total transaction of $1,052,000.00. Following the transaction, the insider now owns 471,653 shares of the company’s stock, valued at $4,961,789.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathleen M. Holmgren acquired 5,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were purchased at an average cost of $11.49 per share, for a total transaction of $57,450.00. Following the acquisition, the director now owns 36,662 shares of the company’s stock, valued at approximately $421,246.38. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EXTR. SG Americas Securities LLC acquired a new stake in Extreme Networks in the third quarter valued at about $116,000. PNC Financial Services Group Inc. acquired a new stake in Extreme Networks in the second quarter valued at about $101,000. Howe & Rusling Inc. lifted its position in Extreme Networks by 2,623.5% in the third quarter. Howe & Rusling Inc. now owns 11,357 shares of the technology company’s stock valued at $135,000 after purchasing an additional 10,940 shares during the period. BlueCrest Capital Management Ltd acquired a new stake in Extreme Networks in the second quarter valued at about $116,000. Finally, Sei Investments Co. acquired a new stake in Extreme Networks in the third quarter valued at about $161,000. 77.65% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on EXTR. Zacks Investment Research raised Extreme Networks from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Friday. Needham & Company LLC reissued a “buy” rating on shares of Extreme Networks in a report on Friday. Craig Hallum reissued a “buy” rating and set a $17.00 price target (up previously from $12.50) on shares of Extreme Networks in a report on Wednesday, November 8th. BidaskClub raised Extreme Networks from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, ValuEngine lowered Extreme Networks from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $13.25.
Extreme Networks Company Profile
Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.
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