Edgio (NASDAQ:EGIO) PT Lowered to $10.00 at Craig Hallum

Edgio (NASDAQ:EGIO) had its price target decreased by research analysts at Craig Hallum from $30.00 to $10.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Craig Hallum’s price target suggests a potential downside of 10.07% from the company’s current price.

Edgio Stock Down 5.3 %

EGIO stock opened at $11.12 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Edgio has a twelve month low of $6.67 and a twelve month high of $44.00. The company’s 50 day moving average is $10.25 and its two-hundred day moving average is $16.45. The stock has a market cap of $64.83 million, a P/E ratio of -0.43 and a beta of 0.40.

Hedge Funds Weigh In On Edgio

Hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD purchased a new position in shares of Edgio during the fourth quarter worth approximately $26,000. MetLife Investment Management LLC purchased a new position in shares of Edgio during the fourth quarter worth approximately $28,000. Savant Capital LLC purchased a new position in shares of Edgio during the fourth quarter worth approximately $31,000. Algert Global LLC purchased a new position in shares of Edgio during the fourth quarter worth approximately $33,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of Edgio during the fourth quarter worth approximately $39,000. 23.16% of the stock is currently owned by hedge funds and other institutional investors.

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.