Edgio (NASDAQ:EGIO) Trading Down 19.6% – Here’s What Happened

Edgio, Inc. (NASDAQ:EGIO)’s share price traded down 19.6% during trading on Tuesday . The company traded as low as $1.02 and last traded at $1.11. 2,351,500 shares were traded during mid-day trading, an increase of 161% from the average session volume of 900,456 shares. The stock had previously closed at $1.38.

Edgio Stock Down 19.6 %

The firm has a market capitalization of $6.47 million, a PE ratio of -0.04 and a beta of 0.48. The stock has a 50-day moving average price of $7.61 and a 200 day moving average price of $9.33.

Institutional Trading of Edgio

An institutional investor recently bought a new position in Edgio stock. XTX Topco Ltd acquired a new stake in Edgio, Inc. (NASDAQ:EGIO) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,165 shares of the company’s stock, valued at approximately $122,000. XTX Topco Ltd owned approximately 0.19% of Edgio at the end of the most recent reporting period. 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.