Limelight Networks (LLNW) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 1,023,630 to 786,555 shares, with 5 days to go before the expiry. The short open interest has decreased by -23.2%, amounting to a reduction of -237,075 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 0.8% of the float of the company. The average daily volume of the stock is 166,130 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Limelight Networks (NASDAQ:LLNW): The stock opened at $1.86 on Wednesday but the bulls could not build on the opening and the stock topped out at $1.93 for the day. The stock traded down to $1.81 during the day, due to lack of any buying support eventually closed down at $1.82 with a loss of -4.21% for the day. The stock had closed at $1.90 on the previous day. The total traded volume was 153,605 shares.
In a related news, Lento Robert A, CEO of Limelight Networks, Inc. had purchased 20,000 shares on August 24, 2015 in a transaction. The price per share was $2.26 and the total amount of the disclosed transaction was $45,200.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
Limelight Networks, Inc. (Limelight) operates a globally distributed, computing platform and provides a suite of integrated services. The Companys suite of integrated services include content delivery services, mobile delivery services, video content management services, performance services and cloud storage services. These four primary service groups work collectively to enable organizations to deliver digital content to a range of devices across the world and are collectively referred to as the Limelight Orchestrate Platform (the Orchestrate Platform). These services provide features, including video publishing, mobile enablement, content delivery, Website and Web application acceleration, transcoding and cloud storage. The Companys solutions include enterprise Web, media and broadcasters and gaming. It also offers professional services and other infrastructure services, such as transit and rack space services.