Edgio (NASDAQ:EGIO) Posts Quarterly Earnings Results

Edgio (NASDAQ:EGIO) issued its quarterly earnings data on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07), MarketWatch Earnings reports. Edgio had a negative return on equity of 42.85% and a negative net margin of 35.10%. The company had revenue of $97.04 million for the quarter, compared to the consensus estimate of $96.44 million.

Edgio Trading Down 10.7 %

Shares of EGIO stock opened at $0.59 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.78. Edgio has a 52-week low of $0.45 and a 52-week high of $1.79. The business’s fifty day moving average is $0.80 and its 200 day moving average is $0.71.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV increased its stake in Edgio by 627.4% in the third quarter. Mercer Global Advisors Inc. ADV now owns 179,705 shares of the company’s stock valued at $153,000 after acquiring an additional 155,000 shares during the last quarter. GSA Capital Partners LLP increased its stake in Edgio by 215.3% in the third quarter. GSA Capital Partners LLP now owns 182,536 shares of the company’s stock valued at $156,000 after acquiring an additional 124,641 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new position in Edgio in the third quarter valued at $100,000. Osaic Holdings Inc. increased its stake in Edgio by 114.2% in the second quarter. Osaic Holdings Inc. now owns 116,714 shares of the company’s stock valued at $79,000 after acquiring an additional 62,235 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its stake in Edgio by 275.6% in the second quarter. Y Intercept Hong Kong Ltd now owns 188,481 shares of the company’s stock valued at $127,000 after acquiring an additional 138,302 shares during the last quarter. Institutional investors own 23.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Lake Street Capital lowered their price objective on Edgio from $2.00 to $1.50 and set a “buy” rating on the stock in a research report on Thursday, July 20th. DA Davidson reiterated a “neutral” rating and issued a $0.75 price objective on shares of Edgio in a research report on Wednesday, August 16th.

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.