Short Interest in Edgio, Inc. (NASDAQ:EGIO) Rises By 53.7%

Edgio, Inc. (NASDAQ:EGIOGet Free Report) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 2,920,000 shares, an increase of 53.7% from the January 31st total of 1,900,000 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,270,000 shares, the short-interest ratio is currently 2.3 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC acquired a new position in Edgio during the fourth quarter valued at approximately $2,807,000. Dimensional Fund Advisors LP bought a new stake in Edgio in the 4th quarter valued at $2,688,000. Putnam Investments LLC acquired a new position in Edgio in the 4th quarter worth $1,591,000. Deutsche Bank AG bought a new stake in shares of Edgio in the fourth quarter valued at about $1,299,000. Finally, Needham Investment Management LLC acquired a new position in shares of Edgio during the fourth quarter worth about $791,000. 23.16% of the stock is currently owned by institutional investors and hedge funds.

Edgio Price Performance

Shares of EGIO stock traded up $0.89 during trading hours on Friday, reaching $9.86. 379,571 shares of the company were exchanged, compared to its average volume of 33,753. Edgio has a fifty-two week low of $7.14 and a fifty-two week high of $52.40. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s fifty day moving average is $10.53 and its two-hundred day moving average is $21.77. The company has a market cap of $57.48 million, a price-to-earnings ratio of -0.39 and a beta of 0.40.

Edgio Company Profile

(Get Free Report)

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.

Further Reading

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