Short Interest in Edgio, Inc. (NASDAQ:EGIO) Drops By 7.3%

Edgio, Inc. (NASDAQ:EGIO) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 424,900 shares, a drop of 7.3% from the May 31st total of 458,500 shares. Based on an average trading volume of 109,300 shares, the short-interest ratio is presently 3.9 days. Currently, 13.0% of the company’s shares are short sold.

Edgio Stock Performance

NASDAQ EGIO traded up $0.04 on Wednesday, hitting $11.06. 58,707 shares of the stock were exchanged, compared to its average volume of 83,868. Edgio has a 52-week low of $6.67 and a 52-week high of $44.00. The firm has a market capitalization of $64.48 million, a P/E ratio of -0.43 and a beta of 0.51. The stock has a fifty day moving average price of $9.71 and a two-hundred day moving average price of $10.42.

Institutional Investors Weigh In On Edgio

An institutional investor recently raised its position in Edgio stock. Raymond James & Associates raised its position in Edgio, Inc. (NASDAQ:EGIO) by 168.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 428,759 shares of the company’s stock after purchasing an additional 269,156 shares during the quarter. Raymond James & Associates owned 0.18% of Edgio worth $147,000 as of its most recent SEC filing. Institutional investors and hedge funds own 23.16% of the company’s stock.

Wall Street Analyst Weigh In

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

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.