Extreme Networks (NASDAQ:EXTR) Sets New 52-Week Low at $10.86

Extreme Networks, Inc. (NASDAQ:EXTR - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $10.86 and last traded at $10.86, with a volume of 1064439 shares changing hands. The stock had previously closed at $11.51.

Analyst Upgrades and Downgrades

EXTR has been the subject of a number of recent analyst reports. UBS Group lowered shares of Extreme Networks from a "buy" rating to a "neutral" rating and reduced their price target for the company from $22.00 to $14.00 in a research report on Thursday, February 1st. TheStreet lowered shares of Extreme Networks from a "b-" rating to a "c+" rating in a research report on Tuesday, February 20th. Needham & Company LLC dropped their price objective on shares of Extreme Networks from $23.00 to $16.50 and set a "buy" rating for the company in a report on Thursday, February 1st. B. Riley dropped their price objective on shares of Extreme Networks from $17.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, February 1st. Finally, StockNews.com downgraded shares of Extreme Networks from a "buy" rating to a "hold" rating in a report on Thursday, February 1st. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $22.36.

Extreme Networks Price Performance

The company has a debt-to-equity ratio of 1.69, a current ratio of 1.02 and a quick ratio of 0.74. The firm has a market capitalization of $1.41 billion, a P/E ratio of 18.27, a P/E/G ratio of 3.96 and a beta of 1.90. The firm's 50 day simple moving average is $11.91 and its two-hundred day simple moving average is $16.26.

Extreme Networks (NASDAQ:EXTR - Get Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.05). The business had revenue of $296.38 million during the quarter, compared to the consensus estimate of $295.50 million. Extreme Networks had a return on equity of 98.24% and a net margin of 5.96%. As a group, analysts predict that Extreme Networks, Inc. will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Edward Meyercord sold 28,443 shares of the company's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $13.24, for a total transaction of $376,585.32. Following the completion of the transaction, the chief executive officer now directly owns 1,129,611 shares of the company's stock, valued at $14,956,049.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Extreme Networks

Several hedge funds and other institutional investors have recently modified their holdings of the company. Asset Management One Co. Ltd. purchased a new position in shares of Extreme Networks during the third quarter valued at about $37,000. Tucker Asset Management LLC purchased a new stake in Extreme Networks in the third quarter worth about $41,000. Meeder Asset Management Inc. grew its holdings in Extreme Networks by 49.8% in the fourth quarter. Meeder Asset Management Inc. now owns 1,781 shares of the technology company's stock worth $33,000 after purchasing an additional 592 shares during the period. Advisors Asset Management Inc. grew its holdings in Extreme Networks by 101.9% in the third quarter. Advisors Asset Management Inc. now owns 1,876 shares of the technology company's stock worth $45,000 after purchasing an additional 947 shares during the period. Finally, Allworth Financial LP grew its holdings in 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 purchasing an additional 2,019 shares during the period. 91.05% of the stock is owned by institutional investors.

Extreme Networks Company Profile

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.