Edgio, Inc. (NASDAQ:EGIO) Short Interest Update

Edgio, Inc. (NASDAQ:EGIO) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 178,300 shares, a growth of 97.7% from the February 29th total of 90,200 shares. Based on an average daily trading volume, of 54,900 shares, the days-to-cover ratio is currently 3.2 days. Currently, 5.3% of the shares of the stock are short sold.

Edgio Price Performance

Shares of NASDAQ:EGIO traded up $0.07 during midday trading on Thursday, hitting $9.65. 35,442 shares of the stock were exchanged, compared to its average volume of 55,452. The stock has a market cap of $56.26 million, a P/E ratio of -0.38 and a beta of 0.40. 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 twelve month low of $6.67 and a twelve month high of $44.00. The company has a 50 day moving average price of $9.24 and a 200-day moving average price of $18.83.

Institutional Trading of Edgio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pathstone Holdings LLC purchased a new stake in Edgio in the 4th quarter valued at about $29,000. Northern Trust Corp grew its holdings in Edgio by 21.4% in the 4th quarter. Northern Trust Corp now owns 314,696 shares of the company’s stock valued at $108,000 after buying an additional 55,509 shares during the period. Gabelli Funds LLC grew its holdings in shares of Edgio by 43.8% during the 4th quarter. Gabelli Funds LLC now owns 814,357 shares of the company’s stock worth $279,000 after purchasing an additional 247,947 shares during the period. UBS Group AG grew its holdings in shares of Edgio by 74.8% during the 4th quarter. UBS Group AG now owns 529,791 shares of the company’s stock worth $182,000 after purchasing an additional 226,777 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in shares of Edgio by 16,098.0% during the 4th quarter. BNP Paribas Financial Markets now owns 414,022 shares of the company’s stock worth $142,000 after purchasing an additional 411,466 shares during the period. Hedge funds and other institutional investors own 23.16% of the company’s stock.

About Edgio

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.