Extreme Networks (NASDAQ:EXTR) Sets New 12-Month Low at $10.49

Extreme Networks, Inc. (NASDAQ:EXTR) reached a new 52-week low on Thursday . The stock traded as low as $10.49 and last traded at $10.58, with a volume of 3320696 shares changing hands. The stock had previously closed at $10.81.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Rosenblatt Securities upgraded Extreme Networks from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $17.00 in a research report on Thursday, May 2nd. B. Riley lifted their target price on Extreme Networks from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. TheStreet cut Extreme Networks from a “b-” rating to a “c+” rating in a research note on Tuesday, February 20th. Needham & Company LLC reissued a “buy” rating and set a $16.50 price objective on shares of Extreme Networks in a research note on Wednesday, May 1st. Finally, UBS Group cut Extreme Networks from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $14.00 in a research note on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.50.

Extreme Networks Stock Down 2.1 %

The business has a fifty day moving average of $11.42 and a 200-day moving average of $14.52. The company has a debt-to-equity ratio of 2.78, a current ratio of 0.96 and a quick ratio of 0.61. The stock has a market cap of $1.37 billion, a PE ratio of -150.57, a price-to-earnings-growth ratio of 3.99 and a beta of 1.88.

Institutional Trading of Extreme Networks

A number of hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. lifted its holdings in shares of Extreme Networks by 167,176.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,409,102 shares of the technology company’s stock valued at $60,137,000 after purchasing an additional 3,407,064 shares during the last quarter. Norges Bank purchased a new stake in shares of Extreme Networks during the 4th quarter valued at $33,267,000. Vanguard Group Inc. lifted its holdings in shares of Extreme Networks by 17.0% during the 3rd quarter. Vanguard Group Inc. now owns 12,895,107 shares of the technology company’s stock valued at $312,191,000 after purchasing an additional 1,877,727 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Extreme Networks during the 3rd quarter valued at $38,999,000. Finally, Fred Alger Management LLC acquired a new position in shares of Extreme Networks in the 3rd quarter valued at $33,920,000. Hedge funds and other 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.