An Analysis of Extreme Networks Inc. (EXTR)’s Potential Price Growth


Extreme Networks Inc.’s recent filing unveils that its Director Khanna Raj unloaded Company’s shares for reported $0.31 million on Aug 09. In the deal valued at $30.87 per share,10,000 shares were sold. As a result of this transaction, Khanna Raj now holds 227,267 shares worth roughly $ 5.72 million.

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Then, MEYERCORD EDWARD sold 100,000 shares, generating $2,304,910 in total proceeds. Upon selling the shares at $23.05, the PRESIDENT AND CEO now owns 610,385 shares.

Before that, MEYERCORD EDWARD sold 167,587 shares. Extreme Networks Inc. shares valued at $3,548,860 were divested by the PRESIDENT AND CEO at a price of $21.18 per share. As a result of the transaction, MEYERCORD EDWARD now holds 710,385 shares, worth roughly $17.87 million.

B. Riley Securities downgraded its Extreme Networks Inc. [EXTR] rating to a Neutral from a a Buy in a research note published on Friday, August 03, 2023; the price target was increased to $30 from $25. PT values the company’s stock at a premium of 16.13 to its Friday closing price.

Price Performance Review of EXTR

On Friday, Extreme Networks Inc. [NASDAQ:EXTR] saw its stock fall -9.10% to $25.16. On the same session, the stock had its day’s lowest price of $22.86, but rose to a high of $27.90. Over the last five days, the stock has lost -10.69%. Extreme Networks Inc. shares have risen nearly 37.41% since the year began. Nevertheless, the stocks have risen 79.20% over the past one year. While a 52-week high of $32.73 was reached on 08/10/23, a 52-week low of $12.09 was recorded on 01/25/23. SMA at 50 days reached $27.42, while 200 days put it at $20.89. A total of 10.12 million shares were traded, compared to the trading of 1.25 million shares in the previous session.

Levels Of Support And Resistance For EXTR Stock

The 24-hour chart illustrates a support level at 22.71, which if violated will result in even more drops to 20.27. On the upside, there is a resistance level at 27.75. A further resistance level may holdings at 30.35. The Relative Strength Index (RSI) on the 14-day chart is 32.99, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.49, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 76.70%. Stochastics %K at 16.70% indicates the stock is a buying.

How much short interest is there in Extreme Networks Inc.?

A steep rise in short interest was recorded in Extreme Networks Inc. stocks on Aug 14, 2023, dropping by -0.59 million shares to a total of 10.29 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 10.88 million shares. There was a decline of -5.73%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 9.57% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.23.

Extreme Networks Inc. [EXTR] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 15,629,854 shares, or roughly 12.12% of the outstanding EXTR shares. In other words, the investor’s shares have risen by 116,895 from its previous 13-F filing of 15512959.0. Additionally, The Vanguard Group, Inc. decreased -8.68% of its stake after which the total value it holdings stand at $283,167,067, while Paradigm Capital Management, Inc. reduced -1.94% of its stake to hold $139.36 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 29,304 shares of Extreme Networks Inc., while Goldman Sachs & Co. LLC bought 484,606 shares. At present, Fidelity Management & Research Co is holding 3,138,230 shares valued at $83.45 million. Millennium Management LLC owned 2,971,292 shares of the company at the time of its most recent 13F filing, worth $79.01 million.

According to FactSet, Extreme Networks Inc.’s share price will average $33.29 in the next year, based on opinions of analysts polled by the firm. This is up nearly 26.45 percent from its previous closing price of $27.68. Analysts expect Extreme Networks Inc. stock to reach the higher price of $36.00, while the lowest price estimate is $29.00. However, 7 analysts have rated EXTR stock as an Overweight in their predictions for 2023.


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