Edgio (NASDAQ:EGIO) Releases Quarterly Earnings Results, Meets Estimates

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

Edgio Trading Down 10.7 %

Shares of EGIO opened at $0.59 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.94 and a current ratio of 0.94. Edgio has a fifty-two week low of $0.45 and a fifty-two week high of $1.79. The firm’s 50-day simple moving average is $0.80 and its two-hundred day simple moving average is $0.71.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Edgio

A number of hedge funds and other institutional investors have recently bought and sold shares of EGIO. Two Sigma Securities LLC bought a new position in shares of Edgio in the second quarter worth approximately $62,000. Legal & General Group Plc bought a new position in shares of Edgio in the fourth quarter worth approximately $58,000. HighTower Advisors LLC bought a new position in shares of Edgio in the fourth quarter worth approximately $57,000. Barclays PLC lifted its stake in shares of Edgio by 88.1% in the first quarter. Barclays PLC now owns 69,345 shares of the company’s stock worth $55,000 after buying an additional 32,473 shares in the last quarter. Finally, Eqis Capital Management Inc. bought a new position in shares of Edgio in the fourth quarter worth approximately $40,000. 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.