Edgio (NASDAQ:EGIO – Get Free Report) issued its quarterly earnings results 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 35.10% and a negative return on equity of 42.85%. The company had revenue of $97.04 million during the quarter, compared to analyst estimates of $96.44 million.
Edgio Stock Down 4.9 %
Shares of NASDAQ EGIO traded down $0.03 during mid-day trading on Friday, reaching $0.56. 815,671 shares of the company traded hands, compared to its average volume of 985,578. The company’s fifty day moving average is $0.80 and its two-hundred day moving average is $0.71. Edgio has a fifty-two week low of $0.45 and a fifty-two week high of $1.79. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $126.00 million, a PE ratio of -0.91 and a beta of 0.94.
Analyst Ratings Changes
Several brokerages recently weighed in on EGIO. Lake Street Capital decreased their target price on Edgio from $2.00 to $1.50 and set a “buy” rating for the company in a research note on Thursday, July 20th. DA Davidson reaffirmed a “neutral” rating and set a $0.75 target price on shares of Edgio in a research report on Wednesday, August 16th.
Hedge Funds Weigh In On Edgio
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EGIO. Price T Rowe Associates Inc. MD bought a new stake in shares of Edgio during the 4th quarter worth $26,000. Schonfeld Strategic Advisors LLC bought a new stake in Edgio during the second quarter valued at about $27,000. MetLife Investment Management LLC acquired a new stake in shares of Edgio in the fourth quarter valued at about $28,000. Savant Capital LLC bought a new position in shares of Edgio in the fourth quarter worth about $31,000. Finally, Algert Global LLC acquired a new stake in Edgio in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 23.16% of the company’s stock.
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.
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