Edgio (NASDAQ:EGIO) Price Target Cut to $10.00 by Analysts at Craig Hallum

Edgio (NASDAQ:EGIO) had its price objective cut by Craig Hallum from $30.00 to $10.00 in a report released on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

Edgio Price Performance

Edgio stock opened at $11.12 on Friday. Edgio has a 52 week low of $6.67 and a 52 week high of $44.00. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. The firm’s 50-day simple moving average is $10.25 and its 200 day simple moving average is $16.55.

Institutional Investors Weigh In On Edgio

Several institutional investors and hedge funds have recently made changes to their positions in EGIO. Price T Rowe Associates Inc. MD purchased a new stake in shares of Edgio in the 4th quarter worth about $26,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Edgio in the 2nd quarter worth about $27,000. MetLife Investment Management LLC purchased a new stake in shares of Edgio in the 4th quarter worth about $28,000. Pathstone Holdings LLC purchased a new stake in shares of Edgio in the 4th quarter worth about $29,000. Finally, Savant Capital LLC purchased a new position in Edgio in the 4th quarter valued at about $31,000. 23.16% of the stock is currently owned by hedge funds and other 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.