Edgio, Inc. (NASDAQ:EGIO) Sees Significant Growth in Short Interest

Edgio, Inc. (NASDAQ:EGIOGet Free Report) was the target of a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 400,900 shares, an increase of 8.3% from the April 15th total of 370,200 shares. Approximately 12.3% of the shares of the stock are short sold. Based on an average daily volume of 119,900 shares, the short-interest ratio is presently 3.3 days.

Edgio Trading Down 5.9 %

EGIO opened at $9.53 on Thursday. Edgio has a one year low of $6.67 and a one year high of $44.00. The stock has a market capitalization of $55.56 million, a PE ratio of -0.37 and a beta of 0.41. The business’s 50 day moving average price is $10.45 and its 200 day moving average price is $13.58. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 0.85.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum decreased their price objective on Edgio from $30.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, April 19th.

Get Our Latest Analysis on Edgio

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Edgio stock. Raymond James & Associates grew its position in shares of Edgio, Inc. (NASDAQ:EGIOFree Report) by 633.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,603 shares of the company’s stock after purchasing an additional 137,850 shares during the period. Raymond James & Associates owned approximately 0.07% of Edgio worth $136,000 as of its most recent SEC filing. 23.16% of the stock is owned by institutional investors and hedge funds.

About Edgio

(Get Free Report)

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.

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