What Extreme Networks Inc. (EXTR) Insiders Are Up To

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Extreme Networks Inc. (NASDAQ:EXTR) finished Friday with an addition of $0.12 to close at $14.22, an upside of 0.85 percent. An average of 818,500 shares of common stock have been traded in the last five days. There was a gain of $0.02 in the past week, and it reached a new high 20 times over the past 12 months. The last 20 days have seen an average of 1,215,145 shares traded, while the 50-day average volume stands at 1,161,028.

EXTR stock has increased by 3.87% in the last month. The company shares reached their 1-month lowest point of $13.26 on 08/17/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $8.49 and a high of $16.60 in 52 weeks. It has reached a new high 1 time so far this year and lost -9.43% or -$1.48 in price. In spite of this, the price is down -14.36% from the 52-week high.


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Insider Transactions

9 days have passed since Extreme Networks Inc. (EXTR) last reported insider trading activity. Thomas Remi, who is EVP Chief Financial Officer, most recently acquired $10,000 shares at $14.05 per share on Sep 01. In this transaction, the insider spent $140,511. Chief Revenue Officer, Vitalone Joseph A, disposed of 35,372 shares at a price of $15.00 on Aug 29. The insider now owns more than $530,633 worth of shares. Prior to that, Director Khanna Raj went on to Sale 20,000 shares at $15.00 each on Aug 29. An amount of $300,000 was transacted.

Valuation Metrics

Extreme Networks Inc. (EXTR) has a trailing price-to-earnings (P/E) ratio of 42.83. The stock’s beta is 2.06. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.69, the price-to-book (PB) ratio at 20.31, and the price-to-cash flow ratio at 16.63.

Financial Health

The quick ratio of Extreme Networks Inc. for the three months ended June 29 was 0.90, and the current ratio was 1.00, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 3.00 and a total debt to equity ratio of 3.37 for the quarter ending June 29. Its gross profit as reported stood at $629.94 million compared to revenue of $1.11 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Extreme Networks Inc.’s return on assets was 4.30%.

Earnings Surprise

For the three-month period that ended June 29, Extreme Networks Inc. had $270.57 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $5.41 million in the quarter, while revenues of $12.82 million were shrunk -90.94%. The analyst consensus anticipated Extreme Networks Inc.’s latest quarter earnings to come in at $0.14 per share, but it turned out to be $0.15, a 7.10% surprise. For the quarter, EBITDA amounted to $22.91 million. Shareholders own equity worth $131.16 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Extreme Networks Inc. (EXTR) price momentum. RSI 9-day as of the close on 09 September was 54.43%, suggesting the stock is Neutral, with historical volatility in this time frame at 54.10%.

As of today, EXTR’s price is $14.02 +0.14% or $0.02 from its 5-day moving average. EXTR is currently trading +5.26% higher than its 20-day SMA and +21.54% higher than its 100-day SMA. However, the stock’s current price level is +59.06% above the SMA50 and +6.44% above the SMA200.

The stochastic %K and %D were 31.07% and 27.61%, respectively, and the average true range (ATR) was 0.59. With the 14-day stochastic at 36.65% and the average true range at 0.58, the RSI (14) stands at 56.87%. The stock has reached -0.19 on the 9-day MACD Oscillator while the 14-day reading was at -0.12.

Analyst Ratings

Rosenblatt launched coverage on Extreme Networks Inc. (NASDAQ: EXTR) in its analyst report released on July 13, 2022. The firm assigned the stock a Buy rating. The consensus rating for Extreme Networks Inc. (EXTR) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell EXTR, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 5 others rate it as a “buy”.

What is EXTR’s price target for the next 12 months?

Analysts predict a range of price targets between $13.00 and $20.00, with a median target of $16.50. Taking a look at these predictions, the average price target given by analysts for Extreme Networks Inc. (EXTR) stock is $16.58.

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