Edgio (NASDAQ:EGIO) Shares Scheduled to Reverse Split on Friday, March 1st

Edgio, Inc. (NASDAQ:EGIOFree Report)’s stock is scheduled to reverse split on Friday, March 1st. The 1-40 reverse split was announced on Friday, March 1st. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, March 1st.

Edgio Trading Down 8.3 %

NASDAQ EGIO traded down $0.02 on Wednesday, reaching $0.23. 2,082,316 shares of the company were exchanged, compared to its average volume of 1,228,754. The business’s fifty day moving average price is $0.27 and its 200 day moving average price is $0.55. The stock has a market capitalization of $53.68 million, a P/E ratio of -0.36 and a beta of 0.42. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.89. Edgio has a fifty-two week low of $0.20 and a fifty-two week high of $1.31.

Hedge Funds Weigh In On Edgio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Associates Ltd. boosted its stake in Edgio by 2.6% during the third quarter. Pinnacle Associates Ltd. now owns 5,761,826 shares of the company’s stock worth $4,910,000 after buying an additional 148,264 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Edgio by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 4,819,818 shares of the company’s stock worth $3,813,000 after buying an additional 35,372 shares during the last quarter. Geode Capital Management LLC boosted its stake in Edgio by 5.0% during the first quarter. Geode Capital Management LLC now owns 2,608,519 shares of the company’s stock worth $2,064,000 after buying an additional 124,363 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Edgio in the 4th quarter valued at $2,688,000. Finally, Putnam Investments LLC lifted its stake in shares of Edgio by 35.2% in the 1st quarter. Putnam Investments LLC now owns 1,903,171 shares of the company’s stock valued at $1,506,000 after purchasing an additional 495,355 shares during the last quarter. Institutional investors and hedge funds own 23.16% of the company’s stock.

About Edgio

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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.

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