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Shares of Extreme Networks (NASDAQ:EXTR) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 1,374,342 shares, a decrease of 27.0% from the January 15th total of 1,881,427 shares, StockRatingsNetwork reports. Approximately 1.5% of the company’s shares are short sold. Based on an average daily volume of 1,221,238 shares, the short-interest ratio is presently 1.1 days.

Separately, analysts at Needham & Company initiated coverage on shares of Extreme Networks in a research note on Tuesday, November 26th. They set a “buy” rating and a $9.00 price target on the stock. They noted that the move was a valuation call.

Shares of Extreme Networks (NASDAQ:EXTR) opened at 5.88 on Friday. Extreme Networks has a 1-year low of $2.99 and a 1-year high of $8.14. The stock has a 50-day moving average of $6.79 and a 200-day moving average of $5.77. The company’s market cap is $563.7 million.

Extreme Networks (NASDAQ:EXTR) last released its earnings data on Tuesday, February 4th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.15 by $0.01. The company had revenue of $146.60 million for the quarter, compared to the consensus estimate of $151.64 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The company’s quarterly revenue was up 96.2% on a year-over-year basis. Analysts expect that Extreme Networks will post $0.28 EPS for the current fiscal year.

Extreme Networks, Inc is a United States-based company that provides local area network (NASDAQ:EXTR) switching solutions.

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