Extreme Networks (NASDAQ:EXTR) Shares Gap Up to $10.84

Extreme Networks, Inc. (NASDAQ:EXTR) shares gapped up before the market opened on Thursday . The stock had previously closed at $10.84, but opened at $11.42. Extreme Networks shares last traded at $12.11, with a volume of 1,134,723 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Craig Hallum upgraded Extreme Networks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $14.00 in a research report on Thursday. B. Riley boosted their price target on Extreme Networks from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. UBS Group cut Extreme Networks from a “buy” rating to a “neutral” rating and dropped their price target for the company from $22.00 to $14.00 in a research report on Thursday, February 1st. TheStreet cut Extreme Networks from a “b-” rating to a “c+” rating in a research report on Tuesday, February 20th. Finally, StockNews.com lowered Extreme Networks from a “buy” rating to a “hold” rating in a report on Thursday, February 1st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.64.

Extreme Networks Stock Performance

The company has a quick ratio of 0.61, a current ratio of 0.96 and a debt-to-equity ratio of 2.78. The stock has a fifty day moving average price of $11.26 and a two-hundred day moving average price of $14.16. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -166.71, a PEG ratio of 8.81 and a beta of 1.88.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Tucker Asset Management LLC purchased a new stake in shares of Extreme Networks during the third quarter worth about $41,000. Allworth Financial LP boosted its position in shares of Extreme Networks by 4,924.4% in the fourth quarter. Allworth Financial LP now owns 2,060 shares of the technology company’s stock worth $36,000 after acquiring an additional 2,019 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Extreme Networks in the first quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd purchased a new stake in Extreme Networks in the third quarter valued at approximately $91,000. Finally, Hennessy Advisors Inc. acquired a new position in Extreme Networks during the fourth quarter worth approximately $82,000. Institutional investors and hedge funds 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.