Today’s big question for investors is, “what’s going on with Limelight Networks, Inc. (NASDAQ:LLNW) stock? Its price is jumping 0.16 points, trading at $3 levels, and is up 5.63% from its previous close of $2.84. The shares seem to have an active trading volume day with a reported 643484 contracts so far this session. LLNW shares had a relatively better volume day versus average trading capacity of 841.8 thousand shares, but with a 0.11 billion float and a 16.87% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for LLNW stock indicates that the average analyst price target is $3.32 per share. This means the stock has a potential increase of 10.67% from where the LLNW share price has been trading recently which is between $2.8 and $2.95. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $2.2.
The shorts are running away from Limelight Networks, Inc. (LLNW) stock. The latest set of short interest data was released on 15 August 2019, and the numbers show a drop in short interest in LLNW shares. While short interest still represents only 3.34% of LLNW’s float, the number of shares shorted have fallen by -654954. The number of shares shorted fell to 3727056 shares, down from 4382010 shares during the preceding fortnight. With average daily trading volumes at 463274 shares, days to cover increased to about 3.14706 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “The 7 Best Penny Stocks to Buy” and dated August 30, 2019.
During the recent trading session for Limelight Networks, Inc. (NASDAQ:LLNW), the company witnessed their stock rise $0.59 over a week and surge $0.66 from the price 20 days ago. When compared to their established 52-week high of $5.32, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/26/18. The recent low of $2.2 stood for a -43.61% since 07/24/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.14 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Limelight Networks, Inc., the two-week RSI stands at 73.58. This figure suggests that LLNW stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current LLNW readings is similarly very revealing as it has a stochastic reading of 93.44% at this stage. This figure means that LLNW share price today is being oversold.
Technical chart claims that Limelight Networks, Inc. (LLNW) would settle between $2.93/share to $3.01/share level. However, if the stock price goes below the $2.78 mark, then the market for Limelight Networks, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $2.71 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.27. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at DA Davidson, assumed coverage of LLNW assigning Neutral rating, according to their opinion released on July 02. Raymond James analysts bumped their rating on Limelight Networks, Inc. (NASDAQ:LLNW) stock from Underperform to Mkt Perform in a separate flash note issued to investors on January 29. Analysts at DA Davidson are sticking to their Buy stance. However, on October 16, they lifted price target for these shares to $5.50 from $4.50.
LLNW equity has an average rating of 1.8, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated Limelight Networks, Inc. (NASDAQ:LLNW) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, LLNW stock price is currently trading at 36.41X forward 12-month Consensus EPS estimates, and its P/E ratio is NA while for the average stock in the same group, the multiple is -12.37. Limelight Networks, Inc. current P/B ratio of 2.11 means it is trading at a discount against its industry’s 2.53.
Limelight Networks, Inc. (LLNW)’s current-quarter revenues are projected to climb by nearly 2.97% to hit $50.79 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 1.97% from $195670 to a noteworthy $199530. At the other end of the current quarter income statement, Limelight Networks, Inc. is expected to see its adjusted earnings surge by roughly -66.67% to hit $0.01 per share. For the fiscal year, LLNW’s earnings are projected to climb by roughly -108.33% to hit $-0.01 per share.