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

Edgio (NASDAQ:EGIO) had its price objective lowered by Craig Hallum from $30.00 to $10.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Edgio Stock Performance

Shares of NASDAQ:EGIO 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 12 month low of $6.67 and a 12 month high of $44.00. The company has a market capitalization of $64.83 million, a price-to-earnings ratio of -0.43 and a beta of 0.40. The firm’s 50-day moving average is $10.25 and its 200 day moving average is $16.36.

Institutional Investors Weigh In On Edgio

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC purchased a new stake in Edgio in the fourth quarter worth $2,807,000. Dimensional Fund Advisors LP bought a new position in shares of Edgio in the fourth quarter worth about $2,688,000. Putnam Investments LLC purchased a new position in Edgio in the 4th quarter worth about $1,591,000. Deutsche Bank AG bought a new stake in Edgio during the 4th quarter valued at about $1,299,000. Finally, Needham Investment Management LLC purchased a new stake in Edgio in the 4th quarter valued at about $791,000. 23.16% of the stock is 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.