Edgio (NASDAQ:EGIO) Given New $10.00 Price Target at Craig Hallum

Edgio (NASDAQ:EGIO) had its price target dropped by equities researchers at Craig Hallum from $30.00 to $10.00 in a report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Craig Hallum’s price objective indicates a potential downside of 8.93% from the company’s current price.

Edgio Stock Down 6.5 %

NASDAQ EGIO traded down $0.76 during trading on Friday, reaching $10.98. 180,002 shares of the company’s stock traded hands, compared to its average volume of 95,024. 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 firm has a market cap of $64.01 million, a price-to-earnings ratio of -0.43 and a beta of 0.40. The company’s 50 day simple moving average is $10.23 and its two-hundred day simple moving average is $16.70. Edgio has a 12-month low of $6.67 and a 12-month high of $44.00.

Institutional Trading of Edgio

A number of institutional investors have recently modified their holdings of the company. Cedar Brook Financial Partners LLC boosted its holdings in shares of Edgio by 25.0% in the 3rd quarter. Cedar Brook Financial Partners LLC now owns 75,000 shares of the company’s stock valued at $64,000 after buying an additional 15,000 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Edgio by 15.2% in the 2nd quarter. Gamco Investors INC. ET AL now owns 142,200 shares of the company’s stock valued at $96,000 after buying an additional 18,800 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Edgio in the 4th quarter valued at about $26,000. Deutsche Bank AG boosted its stake in Edgio by 2.0% in the 1st quarter. Deutsche Bank AG now owns 1,172,785 shares of the company’s stock worth $928,000 after purchasing an additional 23,382 shares in the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in Edgio in the 4th quarter worth approximately $28,000. 23.16% of the stock is currently owned by institutional investors.

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.