01 Feb Doctor Jonathan Cartu Claims – Extreme Networks Sees Unusually Large Options Volume…
Extreme Networks, Inc (NASDAQ:EXTR) was the recipient of some unusual options trading activity on Wednesday. Investors bought 5,850 put options on the stock. This is an increase of 3,062% compared to the average daily volume of 185 put options.
EXTR has been the subject of several analyst reports. BidaskClub downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Friday. ValuEngine raised shares of Extreme Networks from a “hold” rating to a “buy” rating in a report on Friday. Finally, Zacks Investment Research downgraded shares of Extreme Networks from a “buy” rating to a “hold” rating in a report on Thursday.
A number of large investors have recently modified their holdings of EXTR. Westwood Holdings Group Inc. purchased a new position in Extreme Networks in the 2nd quarter worth $65,000. Tyers Asset Management LLC raised its position in Extreme Networks by 28.8% in the 2nd quarter. Tyers Asset Management LLC now owns 13,792 shares of the technology company’s stock worth $89,000 after purchasing an additional 3,088 shares during the period. Riverhead Capital Management LLC increased its position in shares of Extreme Networks by 28.8% in the second quarter. Riverhead Capital Management LLC now owns 15,200 shares of the technology company’s stock valued at $98,000 after acquiring an additional 3,400 shares during the period. LS Investment Advisors LLC increased its position in shares of Extreme Networks by 389.7% in the fourth quarter. LS Investment Advisors LLC now owns 16,137 shares of the technology company’s stock valued at $119,000 after acquiring an additional 12,842 shares during the period. Finally, Elkfork Partners LLC increased its position in shares of Extreme Networks by 28.8% in the second quarter. Elkfork Partners LLC now owns 18,964 shares of the technology company’s stock valued at $123,000 after acquiring an additional 4,246 shares during the period. Institutional investors own 80.91% of the company’s stock.
Shares of Extreme Networks stock traded down $0.21 on Friday, hitting $5.90. 3,328,500 shares of the company traded hands, compared to its average volume of 1,582,233. The firm’s 50-day simple moving average is $7.40 and its 200 day simple moving average is $7.21. The company has a current ratio of 0.99, a quick ratio of 0.86 and a debt-to-equity ratio of 8.00. The company has a market cap of $742.79 million, a P/E ratio of -8.32 and a beta of 1.67. Extreme Networks has a 12-month low of $5.37 and a 12-month high of $8.59.
Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.13 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. The firm had revenue of $267.50 million for the quarter, compared to analysts’ expectations of $273.18 million. Extreme Networks had a negative net margin of 8.31% and a positive return on equity of 6.55%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company posted $0.13 EPS. Analysts predict that Extreme Networks will post 0.36 earnings per share for the current year.
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.
Further Reading: Quiet Period
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