Edgio, Inc. (NASDAQ:EGIO – Get Rating) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 3,040,000 shares, an increase of 23.1% from the November 30th total of 2,470,000 shares. Based on an average daily trading volume, of 1,140,000 shares, the short-interest ratio is presently 2.7 days. Approximately 2.3% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Cowen cut Edgio from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $5.75 to $2.50 in a report on Thursday, November 10th. Cowen cut Edgio from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $5.75 to $2.50 in a report on Thursday, November 10th. Raymond James reduced their price target on Edgio from $8.00 to $6.00 and set a "strong-buy" rating on the stock in a research report on Friday, November 11th. DA Davidson reduced their price target on Edgio to $1.70 in a research report on Tuesday, November 15th. Finally, Lake Street Capital set a $2.50 price target on Edgio in a research report on Thursday, December 15th.

Edgio Stock Performance

Shares of NASDAQ EGIO traded up $0.04 during mid-day trading on Monday, hitting $1.13. 49,609 shares of the stock traded hands, compared to its average volume of 1,585,311. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.61 and a current ratio of 1.61. Edgio has a 52 week low of $0.79 and a 52 week high of $5.55. The company has a market capitalization of $250.39 million, a P/E ratio of -2.26 and a beta of 0.82. The stock has a fifty day moving average of $1.63.

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.

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