Notable News to Watch: Extreme Networks, Inc (NASDAQ:EXTR)

Technology

Extreme Networks, Inc (NASDAQ:EXTR) stock price moved ahead 13.41% from the mean of 20 days, 4.75% from 50 and separated -35.06% from 200 days average price. EXTR stock scored of 5.77% and valued price at $5.87. There were 1983960 shares transacted in last trading period as compared to its an average volume of 1986.8K shares over last three months period. Extreme Networks a USA based Company, belongs to Technology sector and Communication Equipment industry.

Extreme Networks, Inc (NASDAQ:EXTR), a software-driven networking company, announced that its Board of Directors authorized the Company to repurchase up to $60 million of its common stock over the next two years. Purchases may be made from time-to-time in the open market, in privately negotiated transactions or otherwise. Any shares acquired will be available for general corporate purposes. The repurchase will be funded using the Company’s working capital. As of September 30, 2018, Extreme Networks had 118.3 million shares of common stock outstanding.

Meyercord added “After completing two acquisitions in the span of a year and investing in integrating these assets, we recently paid down a portion of our debt and now expect to generate strong cash flow,” said Ed Meyercord, Extreme’s President and CEO.  “We started off fiscal year 2019 with strong cash collections. Combined with the strength of our existing balance sheet, and our Board’s commitment to fiscal responsibility, this stock buyback program will help us improve shareholder value and minimize dilution from our equity programs,”.

The manner, timing and amount of any purchases will be determined by the Company’s management based on their evaluation of market conditions, stock price, Extreme’s ongoing determination that it is the best use of available cash and other factors. The repurchase program does not obligate Extreme to acquire any common stock, may be suspended or terminated at any time without prior notice and will be subject to regulatory considerations.

The stock has changed -50.59% in one year period and YTD Performance clocked at -53.12%. Shares of the company returned 12.67% during the last five trading days and it returned 5.58% in past 30 trading days. It changed -29.87% over recent three months. Its price volatility for a month is at 5.58% and for a week, volatility remained at 6.92%. Its beta factor stands at 0.98. Company’s price to sales ratio for last 12 months was 0.71 while its price to book ratio for the most recent quarter was 6.05. Its Market Cap valued at $697.18M.

Cesar Melton is an author, journalist and CEO of mosttradedstocks.com, a leading stocks and markets website. He has more than 5 years of experience in institutional investment markets, including fixed income, equities, derivatives and real estate. He has a Bachelor in Business Administration with a major in Finance. He bought his first stocks in a private business at age 15 and made his first public stock trade at 23. Cesar has always been interested in the stock market and how it behaves.

As the dad of two children, he’s made saving money and investing for them a high priority. Over many years of investing, he has made some wise choices and he’s made many mistakes. But he’s learned from both. Mr. Cesar observations and experience give him the insight to stock market patterns and the investor behaviors that create them.

Email: Cesar@mosttradedstocks.com 

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