Edgio, Inc. (NASDAQ:EGIO) Given Average Rating of “Hold” by Analysts

Shares of Edgio, Inc. (NASDAQ:EGIO) have been given an average recommendation of “Hold” by the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $2.38.

EGIO has been the topic of a number of analyst reports. DA Davidson reissued a “neutral” rating and set a $0.75 price objective on shares of Edgio in a report on Wednesday, August 16th. Lake Street Capital lowered their price objective on Edgio from $2.00 to $1.50 and set a “buy” rating on the stock in a report on Thursday, July 20th.

Institutional Trading of Edgio

Hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD acquired a new stake in shares of Edgio during the 4th quarter valued at about $26,000. Schonfeld Strategic Advisors LLC acquired a new stake in Edgio in the 2nd quarter valued at $27,000. Mercer Global Advisors Inc. ADV bought a new stake in Edgio in the fourth quarter valued at $28,000. MetLife Investment Management LLC acquired a new position in Edgio during the fourth quarter worth $28,000. Finally, Savant Capital LLC bought a new position in shares of Edgio during the fourth quarter valued at $31,000. Institutional investors own 23.16% of the company’s stock.

Edgio Stock Up 1.0 %

Shares of Edgio stock opened at $0.86 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.65. Edgio has a 1 year low of $0.45 and a 1 year high of $3.50. The stock has a 50-day moving average price of $0.76 and a 200 day moving average price of $0.74. The company has a market cap of $191.48 million, a P/E ratio of -1.28 and a beta of 1.00.

Edgio (NASDAQ:EGIO) last issued its earnings results on Tuesday, August 15th. The company reported ($0.12) earnings per share for the quarter. Edgio had a negative return on equity of 25.52% and a negative net margin of 34.60%. The firm had revenue of $101.95 million during the quarter. As a group, analysts expect that Edgio will post -0.46 EPS for the current fiscal year.

About Edgio

Edgio, Inc provides edge-enabled software solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates private global networks with distributed computing resources and extensive connectivity to last-mile broadband network providers; offers live and on-demand video delivery services; and provides platform, media, and application solutions.