Edgio Inc. [NASDAQ: EGIO] plunged by -$0.77 during the normal trading session on Thursday and reaching a high of $1.39 during the day while it closed the day at $1.39. The company report on November 9, 2022 that Edgio Reports Third Quarter 2022 Financial Results.
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Third quarter revenue of $121.2 million, up 119% year over year.
GAAP Gross margin of 30.5%, increased 180 basis points year over year.
Edgio Inc. stock has also loss -41.10% of its value over the past 7 days. However, EGIO stock has declined by -61.92% in the 3 months of the year. Over the past six months meanwhile, it has lost -56.70% and lost -59.48% year-on date.
The market cap for EGIO stock reached $308.83 million, with 219.71 million shares outstanding and 216.24 million shares in the current float. Compared to the average trading volume of 918.45K shares, EGIO reached a trading volume of 11036813 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Edgio Inc. [EGIO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EGIO shares is $6.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EGIO stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Northland Capital have made an estimate for Edgio Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on November 10, 2022. While these analysts kept the previous recommendation, Cowen dropped their target price from $5.75 to $2.50. The new note on the price target was released on November 10, 2022, representing the official price target for Edgio Inc. stock.
The Average True Range (ATR) for Edgio Inc. is set at 0.23, with the Price to Sales ratio for EGIO stock in the period of the last 12 months amounting to 1.23. The Price to Book ratio for the last quarter was 0.63, with the Price to Cash per share for the same quarter was set at 0.35.
EGIO stock trade performance evaluation
Edgio Inc. [EGIO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -41.10. With this latest performance, EGIO shares dropped by -48.90% in over the last four-week period, additionally sinking by -56.70% over the last 6 months – not to mention a drop of -53.36% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EGIO stock in for the last two-week period is set at 14.21, with the RSI for the last a single of trading hit 7.60, and the three-weeks RSI is set at 20.22 for Edgio Inc. [EGIO]. The present Moving Average for the last 50 days of trading for this stock 2.86, while it was recorded at 2.07 for the last single week of trading, and 3.43 for the last 200 days.
Edgio Inc. [EGIO]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Edgio Inc. [EGIO] shares currently have an operating margin of -15.61 and a Gross Margin at +26.45. Edgio Inc.’s Net Margin is presently recorded at -25.16.
Return on Equity for this stock declined to -34.57, with Return on Assets sitting at -17.52.
Edgio Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.10.
Earnings per share (EPS) analysis for Edgio Inc. [EGIO] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EGIO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Edgio Inc. go to 15.00%.
Edgio Inc. [EGIO]: Insider Ownership positions
There are presently around $115 million, or 74.80% of EGIO stock, in the hands of institutional investors. The top three institutional holders of EGIO stocks are: BLACKROCK INC. with ownership of 9,673,722, which is approximately 4.68% of the company’s market cap and around 5.30% of the total institutional ownership; GRANAHAN INVESTMENT MANAGEMENT, LLC, holding 7,024,111 shares of the stock with an approximate value of $9.76 million in EGIO stocks shares; and BANK OF NEW YORK MELLON CORP, currently with $9.65 million in EGIO stock with ownership of nearly 3.136% of the company’s market capitalization.
Positions in Edgio Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 84 institutional holders increased their position in Edgio Inc. [NASDAQ:EGIO] by around 13,048,942 shares. Additionally, 79 investors decreased positions by around 16,053,953 shares, while 36 investors held positions by with 53,867,773 shares. The mentioned changes placed institutional holdings at 82,970,668 shares, according to the latest SEC report filing. EGIO stock had 22 new institutional investments in for a total of 1,819,273 shares, while 26 institutional investors sold positions of 5,483,669 shares during the same period.