Extreme Networks Inc. (EXTR) Sees Large Volume Increase
Extreme Networks Inc. (NASDAQ:EXTR) shares saw unusually-high trading volume on Thursday . Approximately 845,358 shares traded hands during mid-day trading, an increase of 26% from the previous session’s volume of 673,323 shares.The stock last traded at $3.86 and had previously closed at $3.73.
EXTR has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $3.75 target price on shares of Extreme Networks in a research report on Wednesday, June 15th. Zacks Investment Research upgraded shares of Extreme Networks from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a research report on Wednesday, April 27th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $4.45.
The firm has a 50-day moving average price of $3.54 and a 200 day moving average price of $3.29. The stock’s market capitalization is $404.55 million.
Extreme Networks (NASDAQ:EXTR) last posted its earnings results on Wednesday, April 27th. The company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01. During the same period last year, the company posted ($0.08) EPS. The firm had revenue of $125.30 million for the quarter, compared to the consensus estimate of $123.02 million. The business’s revenue was up 4.1% on a year-over-year basis. On average, analysts expect that Extreme Networks Inc. will post $0.28 EPS for the current fiscal year.
Other institutional investors recently added to or reduced their stakes in the company. Systematic Financial Management LP bought a new position in Extreme Networks during the fourth quarter worth approximately $1,405,000. New York State Common Retirement Fund boosted its position in Extreme Networks by 162.9% in the fourth quarter. New York State Common Retirement Fund now owns 438,469 shares of the company’s stock worth $1,789,000 after buying an additional 271,679 shares in the last quarter. Russell Frank Co boosted its position in Extreme Networks by 32.0% in the fourth quarter. Russell Frank Co now owns 545,358 shares of the company’s stock worth $2,258,000 after buying an additional 132,274 shares in the last quarter. Nationwide Fund Advisors boosted its position in Extreme Networks by 170.6% in the fourth quarter. Nationwide Fund Advisors now owns 565,433 shares of the company’s stock worth $2,307,000 after buying an additional 356,457 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in Extreme Networks by 35.0% in the fourth quarter. California Public Employees Retirement System now owns 685,600 shares of the company’s stock worth $2,797,000 after buying an additional 177,600 shares in the last quarter.
Extreme Networks, Inc, together with its subsidiaries, is a provider of wired and wireless network infrastructure equipment, software and services for enterprises, data centers and service providers. The Company sells its products through an ecosystem of the Company channel partners who combine its Ethernet products with their offerings to create information technology solutions for end user customers.
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