Edgio (NASDAQ:EGIO) Posts Quarterly Earnings Results, Hits Expectations

Edgio (NASDAQ:EGIO) released its quarterly earnings data on Wednesday. The company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07), MarketWatch Earnings reports. Edgio had a negative net margin of 37.36% and a negative return on equity of 41.54%.

Edgio Price Performance

NASDAQ EGIO opened at $0.65 on Thursday. Edgio has a 12-month low of $0.45 and a 12-month high of $1.79. The firm’s fifty day simple moving average is $0.80 and its two-hundred day simple moving average is $0.71. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $146.56 million, a P/E ratio of -0.92 and a beta of 0.94.

Institutional Trading of Edgio

A number of institutional investors have recently made changes to their positions in the business. Savant Capital LLC purchased a new stake in Edgio in the fourth quarter valued at about $31,000. LPL Financial LLC purchased a new position in shares of Edgio in the 4th quarter valued at approximately $39,000. UBS Group AG acquired a new stake in Edgio in the 4th quarter worth approximately $397,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Edgio during the 4th quarter worth approximately $150,000. Finally, HighTower Advisors LLC purchased a new stake in Edgio during the 4th quarter worth approximately $57,000. Institutional investors and hedge funds own 23.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EGIO. Lake Street Capital cut their price objective on shares of Edgio from $2.00 to $1.50 and set a “buy” rating on the stock in a report on Thursday, July 20th. DA Davidson reissued a “neutral” rating and issued a $0.75 price target on shares of Edgio in a research report on Wednesday, August 16th.

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.