Extreme Networks Inc. (EXTR) Sees Large Volume Increase
Extreme Networks Inc. (NASDAQ:EXTR) shares saw unusually-strong trading volume on Thursday . Approximately 845,358 shares traded hands during 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.
A number of equities analysts have issued reports on EXTR shares. Zacks Investment Research upgraded Extreme Networks from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a research note on Monday, April 18th. Needham & Company LLC reiterated a “buy” rating and set a $3.75 price target on shares of Extreme Networks in a research note on Wednesday, June 15th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $4.45.
The stock’s market cap is $406.64 million. The company has a 50-day moving average of $3.55 and a 200-day moving average of $3.29.
Extreme Networks (NASDAQ:EXTR) last issued its quarterly earnings data on Wednesday, April 27th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. During the same period last year, the company posted ($0.08) earnings per share. 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. Equities analysts forecast that Extreme Networks Inc. will post $0.28 earnings per share for the current year.
A number of institutional investors recently added to or reduced their stakes in EXTR. Russell Frank Co increased 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 during the last quarter. California Public Employees Retirement System increased 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 during the last quarter. New York State Common Retirement Fund increased 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 during the last quarter. Systematic Financial Management LP bought a new position in Extreme Networks during the fourth quarter worth about $1,405,000. Finally, Nationwide Fund Advisors increased 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 during 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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