Edgio, Inc. (NASDAQ:EGIO) Sees Significant Decrease in Short Interest

Edgio, Inc. (NASDAQ:EGIO) was the recipient of a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 424,900 shares, a drop of 7.3% from the May 31st total of 458,500 shares. Based on an average daily trading volume, of 109,300 shares, the short-interest ratio is currently 3.9 days. Approximately 13.0% of the shares of the company are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Edgio stock. Raymond James & Associates grew its holdings in shares of Edgio, Inc. (NASDAQ:EGIO) by 168.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 428,759 shares of the company’s stock after purchasing an additional 269,156 shares during the period. Raymond James & Associates owned approximately 0.18% of Edgio worth $147,000 at the end of the most recent reporting period. 23.16% of the stock is currently owned by institutional investors and hedge funds.

Edgio Price Performance

Shares of EGIO opened at $11.06 on Thursday. Edgio has a one year low of $6.67 and a one year high of $44.00. The stock’s fifty day moving average is $9.71 and its 200-day moving average is $10.42.

Wall Street Analyst Weigh In

Separately, Craig Hallum dropped their target price on Edgio from $30.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday, April 19th.

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.