Edgio, Inc. (NASDAQ:EGIO – Get Rating) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 3,550,000 shares, an increase of 10.2% from the August 31st total of 3,220,000 shares. Approximately 2.7% of the shares of the company are short sold. Based on an average daily volume of 1,230,000 shares, the short-interest ratio is currently 2.9 days.
Edgio Stock Performance
NASDAQ:EGIO traded up $0.08 during mid-day trading on Monday, hitting $2.86. The company’s stock had a trading volume of 1,077,506 shares, compared to its average volume of 1,722,168. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.36. Edgio has a fifty-two week low of $1.95 and a fifty-two week high of $5.55. The company has a fifty day simple moving average of $3.19.
Edgio (NASDAQ:EGIO – Get Rating) last issued its earnings results on Monday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.09. The business had revenue of $74.31 million during the quarter, compared to analysts’ expectations of $61.40 million. Edgio had a negative return on equity of 9.75% and a negative net margin of 21.34%. Research analysts anticipate that Edgio will post -0.2 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on EGIO. Cowen boosted their price objective on shares of Edgio to $5.75 in a report on Monday, August 22nd. DA Davidson reduced their price objective on Edgio to $3.25 in a research report on Monday, August 15th. Finally, Cowen lowered their price objective on Edgio from $5.50 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 21st.
About Edgio
Edgio, Inc provides edge-enabled software solutions through an integrated delivery, applications, and streaming platform 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 online video platforms that integrates and manages advanced video delivery.