In November, short interest in Extreme Networks, Inc. (NASDAQ: EXTR) increased significantly. A total of 8,050,000 shares, including 8,050,000 shares of short interest, were outstanding as of November 15, up from 7,270,000 shares on October 31 by 10.7%. Based on an average daily trading volume of 1,190,000 shares, the short-interest ratio is currently 6.8 days.
Additionally, CRO Joseph A. Vitalone sold 20,226 shares of the company’s stock on October 26. A total of $324,829.56 worth of the stock was sold, averaging $16.06 per share. The executive will possess 41,298 shares of the business after the sale, which have a market value of $663,245.88. Documentation outlining the transaction was submitted to the Securities and Exchange Commission and is available online at the SEC website. Another business update concerns CRO Joseph A. Vitalone’s October 26 sale of 20,226 shares of Extreme Networks stock. The average price for the shares during the sale was $16.06, for a total transaction value of $324,829.56. After the transaction, the executive owns 41,298 company shares with a market value of $663,245.88. You can view the court documents in which the transaction was revealed on the Securities and Exchange Commission website. On November 17, director Kathleen M. Holmgren also bought 5,370 shares of the company’s stock. For a total investment of $100,043.10, the shares cost an average of $18.63. Following the acquisition, the director now holds 201,034 company shares, valued at approximately $3,745,263.42. The disclosure for this transaction can be read here. In the past ninety days, insiders have sold 37,858 shares of company stock for a total of $646,378. Insiders own 3.16% of the company’s shares.
On Friday, NASDAQ: EXTRA rose $0.13 to $20.13 during trading. The total volume of shares traded for the firm was 1,089,574, which was marginally below the 1,061,770 average volume. In the preceding year, Extreme Networks’ cost varied from $8.49 to $21.03. The company’s market capitalization is $2.64 billion, the price-to-earnings ratio is 61.00, and the beta is 2.09. The company’s debt-to-equity ratio, quick ratio, and current ratio are 2.09, 0.86, and 0.96, respectively. The company’s 50-day moving average is $16.47, and its 200-day moving average is $13.23.
The corporation recently changed its holdings in several hedge funds. The Teachers Retirement System of the State of Kentucky invested $508,000 in Extreme Networks shares during the third quarter. Alpha Paradigm Partners LLC increased its holdings in Extreme Networks by 567.4% during the third quarter. Alpha Paradigm Partners LLC now directly owns 132,812 technology company shares worth $1,736,000, after acquiring an additional 112,913 shares in the most recent quarter. Balyasny Asset Management LLC acquired extreme Networks shares for approximately $166,000 during the third quarter. State Street Corp. increased its holding in Extreme Networks by 0.7% during the third quarter. After acquiring an additional 31,937 shares, State Street Corp now owns 4,437,359 shares of the technology company’s stock, valued at $57,996,000.
Last but not least, Algert Global LLC increased its ownership of Extreme Networks by 86.2% during the third quarter. Algert Global LLC now directly owns 131,751 technology company shares, worth $1,722,000, after acquiring an additional 61,011 shares in the last quarter. Institutional investors and hedge funds hold 85.0% of the stock.
Several brokerages have commented on EXTRA. Westpark Capital started covering shares of Extreme Networks on Tuesday, September 13. They suggested that customers “purchase” the company. In a research note released on Friday, October 28, Lake Street Capital raised its price target for Extreme Networks shares from $15.00 to $19.00. In a research report published on Friday, October 28, Rosenblatt Securities increased its price objective on shares of Extreme Networks from $20.00 to $22.00. The company’s rating remained at “buy” from the business. On Tuesday, November 1, Cowen raised their price objective for Extreme Networks shares from $15.00 to $18.00. StockNews.com officially covered extreme Networks’ stock on Wednesday, October 12. They rated the stock as a “strong buy.” Four equity research experts and one analyst both strongly recommend buying the stock. According to Bloomberg, extreme Networks has a consensus rating of “buy” and an average target price of $19.75.
The cloud-based networking solutions provided by Extreme Networks, Inc. utilize analytics, automation, machine learning, and artificial intelligence.
In addition to producing hardware for wired and wireless network infrastructure, the company also develops software for network administration, policy, analytics, security, and access controls.
