Extreme Networks (NASDAQ:EXTR) Shares Down 5.4% – Here’s What Happened

Extreme Networks, Inc. (NASDAQ:EXTR) traded down 5.4% during mid-day trading on Thursday . The stock traded as low as $17.25 and last traded at $17.2210. 278,859 shares changed hands during trading, a decline of 80% from the average session volume of 1,368,100 shares. The stock had previously closed at $18.20.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $24.00 price objective on shares of Extreme Networks in a research note on Monday, November 24th. Oppenheimer raised shares of Extreme Networks from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a research note on Thursday, October 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Extreme Networks in a research report on Monday. Bank of America initiated coverage on shares of Extreme Networks in a research note on Wednesday, November 19th. They set a “buy” rating and a $24.00 target price on the stock. Finally, B. Riley reissued a “buy” rating on shares of Extreme Networks in a research note on Thursday, October 30th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.83.

Extreme Networks Trading Down 2.4%

The stock has a market cap of $2.26 billion, a PE ratio of 241.57, a PEG ratio of 1.92 and a beta of 1.67. The company has a quick ratio of 0.75, a current ratio of 0.91 and a debt-to-equity ratio of 2.32. The stock’s fifty day moving average price is $18.58 and its 200 day moving average price is $18.89.

Extreme Networks (NASDAQ:EXTR) last announced its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. Extreme Networks had a return on equity of 81.83% and a net margin of 0.73%.The firm had revenue of $310.25 million for the quarter, compared to the consensus estimate of $295.72 million. During the same period in the prior year, the company posted $0.17 earnings per share. The company’s quarterly revenue was up 15.2% on a year-over-year basis. Extreme Networks has set its Q2 2026 guidance at 0.230-0.250 EPS. On average, sell-side analysts forecast that Extreme Networks, Inc. will post 0.31 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 50,000 shares of the firm’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $17.46, for a total value of $873,000.00. Following the transaction, the chief executive officer directly owned 1,871,418 shares in the company, valued at $32,674,958.28. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Extreme Networks

Institutional investors have recently made changes to their positions in the business. Salomon & Ludwin LLC purchased a new stake in Extreme Networks during the third quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Extreme Networks in the 3rd quarter worth $31,000. CWM LLC increased its stake in shares of Extreme Networks by 44.8% in the 3rd quarter. CWM LLC now owns 2,095 shares of the technology company’s stock worth $43,000 after purchasing an additional 648 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Extreme Networks by 85.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,201 shares of the technology company’s stock worth $45,000 after purchasing an additional 1,014 shares during the period. Finally, Quarry LP lifted its position in Extreme Networks by 74.9% during the third quarter. Quarry LP now owns 2,610 shares of the technology company’s stock valued at $54,000 after purchasing an additional 1,118 shares in the last quarter. Institutional investors 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.