Ready to Jump After Recent Trade: Extreme Networks Inc. (EXTR)

Extreme Networks Inc. (NASDAQ: EXTR) stock jumped 0.12% on Monday to $16.56 against a previous-day closing price of $16.54. With 1.24 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.56 million shares. The 52-week range on EXTR shows that it touched its highest point at $32.73 and its lowest point at $14.63 during that stretch. It currently has a 1-year price target of $22.14. Beta for the stock currently stands at 1.98.

Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EXTR was up-trending over the past week, with a rise of 1.85%, but this was down by -20.69% over a month. Three-month performance dropped to -41.17% while six-month performance fell -12.33%. The stock lost -11.68% in the past year, while it has lost -9.56% so far this year. A look at the trailing 12-month EPS for EXTR yields 0.71 with Next year EPS estimates of 1.66. For the next quarter, that number is 0.29. This implies an EPS growth rate of 26.59% for this year and 20.42% for next year.

Float and Shares Shorts:

At present, 127.78 million EXTR shares are outstanding with a float of 126.23 million shares on hand for trading. On Oct 30, 2023, short shares totaled 18.48 million, which was 14.26% higher than short shares on Sep 28, 2023. In addition to Mr. Edward B. Meyercord III as the firm’s President, CEO & Executive Director, Mr. Kevin Rhodes serves as its Executive VP & CFO.

Institutional Ownership:

Through their ownership of 90.69% of EXTR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 47.84% of EXTR, in contrast to 45.53% held by mutual funds. Shares owned by individuals account for 19.64%. As the largest shareholder in EXTR with 11.96% of the stake, BlackRock Fund Advisors holds 15,487,603 shares worth 15,487,603. A second-largest stockholder of EXTR, The Vanguard Group, Inc., holds 12,521,301 shares, controlling over 9.67% of the firm’s shares. Paradigm Capital Management, Inc. is the third largest shareholder in EXTR, holding 5,072,400 shares or 3.92% stake. With a 4.51% stake in EXTR, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 5,838,562 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.98% of EXTR stock, is the second-largest Mutual Fund holder. It holds 3,865,537 shares valued at 79.71 million. iShares Russell 2000 ETF holds 2.26% of the stake in EXTR, owning 2,927,584 shares worth 60.37 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EXTR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With EXTR analysts setting a high price target of $28.00 and a low target of $19.00, the average target price over the next 12 months is $22.14. Based on these targets, EXTR could surge 69.08% to reach the target high and rise by 14.73% to reach the target low. Reaching the average price target will result in a growth of 33.7% from current levels.

Summary of Insider Activity:

Insiders traded EXTR stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 47,490 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 40 over the past year. The total number of shares bought during that period was 1,131,067 while 894,847 shares were sold.