Extreme Networks Inc. (EXTR) Is Now En Route to Higher Prices

Extreme Networks Inc. (NASDAQ: EXTR) is -28.63% lower on its value in year-to-date trading and has touched a low of $12.11 and a high of $32.73 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The EXTR stock was last observed hovering at around $12.58 in the last trading session, with the day’s gains setting it 0.01%.

Currently trading at $12.59, the stock is -16.34% and -23.00% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.62 million and changing 0.08% at the moment leaves the stock -40.99% off its SMA200. EXTR registered -34.60% loss for a year compared to 6-month loss of -60.99%. The firm has a 50-day simple moving average (SMA 50) of $1.22 and a 200-day simple moving average (SMA200) of $11.17.

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The stock witnessed a -22.19% gain in the last 1 month and extending the period to 3 months gives it a -21.85%, and is 2.11% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.63% over the week and 3.14% over the month.

Current P/E ratio is 20.88 and Fwd P/E is 15.18. Profit margin for the company is 5.96%. Distance from 52-week low is 3.96% and -61.53% from its 52-week high. The company has generated returns on investments over the last 12 months (23.95%).

Extreme Networks Inc. quarterly earnings per share for the current quarter are estimated at -$0.18 with sales reaching $204.63M over the same period.The EPS is expected to shrink by -48.10% this year, but quarterly earnings will post -14.30% year-over-year.

Extreme Networks Inc. (EXTR) Top Institutional Holders

441 institutions hold shares in Extreme Networks Inc. (EXTR), with institutional investors hold 101.86% of the company’s shares. The shares outstanding are 127.78M, and float is at 125.25M with Short Float at 9.21%. Institutions hold 99.22% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 18.65 million shares valued at $485.7 million. The investor’s holdings represent 14.39% of the EXTR Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 11.02 million shares valued at $287.0 million to account for 8.51% of the shares outstanding. The other top investors are Paradigm Capital Management which holds 5.24 million shares representing 4.05% and valued at over $136.53 million, while State Street Corporation holds 3.54% of the shares totaling 4.59 million with a market value of $119.46 million.

Extreme Networks Inc. (EXTR) Insider Activity

A total of 38 insider transactions have happened at Extreme Networks Inc. (EXTR) in the last six months, with sales accounting for 17 and purchases happening 21 times. The most recent transaction is an insider sale by MEYERCORD EDWARD,the company’sPRESIDENT AND CEO. SEC filings show that MEYERCORD EDWARD sold 28,443 shares of the company’s common stock on Feb 01 at a price of $13.24 per share for a total of $0.38 million. Following the sale, the insider now owns 1.13 million shares.

Extreme Networks Inc. disclosed in a document filed with the SEC on Dec 01 that MEYERCORD EDWARD (PRESIDENT AND CEO) sold a total of 28,443 shares of the company’s common stock. The trade occurred on Dec 01 and was made at $16.32 per share for $0.46 million. Following the transaction, the insider now directly holds 1.13 million shares of the EXTR stock.

Still, SEC filings show that on Nov 07, MEYERCORD EDWARD (PRESIDENT AND CEO) disposed off 28,443 shares at an average price of $17.10 for $0.49 million. The insider now directly holds 1,090,354 shares of Extreme Networks Inc. (EXTR).

Extreme Networks Inc. (EXTR): Who are the competitors?

The company’s main competitors (and peers) include Infinera Corp. (INFN) that is trading -26.07% down over the past 12 months. Motorola Solutions Inc. (MSI) that is 17.87% higher over the same period.