Edgio (NASDAQ:EGIO) PT Lowered to $10.00

Edgio (NASDAQ:EGIO) had its price target trimmed by Craig Hallum from $30.00 to $10.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has a hold rating on the stock.

Edgio Trading Down 1.9 %

Shares of NASDAQ:EGIO opened at $10.91 on Friday. The company has a market capitalization of $63.61 million, a PE ratio of -0.43 and a beta of 0.40. 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 12-month low of $6.67 and a 12-month high of $44.00. The business’s fifty day simple moving average is $10.27 and its 200-day simple moving average is $16.23.

Institutional Trading of Edgio

A number of institutional investors have recently modified their holdings of EGIO. Vanguard Personalized Indexing Management LLC purchased a new stake in Edgio during the third quarter valued at approximately $40,000. Cedar Brook Financial Partners LLC increased its position in Edgio by 25.0% during the 3rd quarter. Cedar Brook Financial Partners LLC now owns 75,000 shares of the company’s stock valued at $64,000 after buying an additional 15,000 shares in the last quarter. Raymond James & Associates raised its stake in Edgio by 633.7% in the third quarter. Raymond James & Associates now owns 159,603 shares of the company’s stock valued at $136,000 after buying an additional 137,850 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in Edgio by 2.6% in the third quarter. Pinnacle Associates Ltd. now owns 5,761,826 shares of the company’s stock worth $4,910,000 after acquiring an additional 148,264 shares in the last quarter. 23.16% of the stock is currently owned by institutional investors.

Edgio Company Profile

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.