Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded Extreme Networks from a sell rating to a hold rating in a report on Tuesday, June 4th. BidaskClub upgraded Extreme Networks from a buy rating to a strong-buy rating in a report on Thursday. Finally, Lake Street Capital initiated coverage on Extreme Networks in a report on Monday, July 29th. They issued a buy rating and a $9.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Extreme Networks currently has an average rating of Buy and a consensus price target of $9.30.
Shares of EXTR stock traded down $0.12 on Thursday, hitting $8.25. The stock had a trading volume of 1,968,583 shares, compared to its average volume of 976,411. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.10 and a current ratio of 1.24. The business has a 50 day moving average price of $6.58. The company has a market capitalization of $966.67 million, a P/E ratio of 63.46 and a beta of 1.61. Extreme Networks has a one year low of $4.81 and a one year high of $9.08.
Institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. raised its holdings in Extreme Networks by 438.4% in the first quarter. Meeder Asset Management Inc. now owns 3,467 shares of the technology company’s stock worth $26,000 after purchasing an additional 2,823 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in Extreme Networks in the second quarter worth about $27,000. Bailard Inc. bought a new position in Extreme Networks in the second quarter worth about $68,000. Hennessy Advisors Inc. bought a new position in Extreme Networks in the second quarter worth about $87,000. Finally, Penserra Capital Management LLC bought a new position in Extreme Networks in the first quarter worth about $110,000. Institutional investors and hedge funds own 80.88% of the company’s stock.
About Extreme Networks
Extreme Networks, Inc provides software-driven networking solutions for enterprise customers worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops the software for network management, policy, analytics, security, and access controls. The company offers edge/access Ethernet switching systems that deliver Ethernet connectivity for edge of the network; aggregation/core Ethernet switching systems for aggregation, top-of-rack, and campus core environments; data center switching systems for enterprises and cloud data centers; and wireless access point products, as well as distributed Wi-Fi networks.
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