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Investors look to Lighten Up on Shares of Limelight Networks, Shares Down 7.2% (LLNW)
Feb 14, 2013 (SmarTrend(R) Spotlight via COMTEX) --
Limelight Networks (NASDAQ:LLNW) is one of today's worst performing low-priced stocks, down 7.2% to $2.19 on 1.3x average daily volume. Thus far today, Limelight Networks has traded 523,000 shares, vs. average volume of 406,000 shares per day. The stock has underperformed the Dow (-7.2% to the Dow's -0.1%) and underperformed the S&P 500 (-7.2% to the S&P's -0.0%) during today's trading.
Limelight Networks share prices have moved between a 52-week high of $4.33 and a 52-week low of $1.62 and are now trading 35% above that low price at $2.19 per share. The 200-day and 50-day moving averages have moved 0.34% lower and 1.07% higher over the past week, respectively.
There is potential upside of 42.7% for shares of Limelight Networks based on a current price of $2.19 and an average consensus analyst price target of $3.12. The stock should run into initial resistance at its 50-day moving average (MA) of $2.28 and subsequent resistance at its 200-day MA of $2.41.
Limelight Networks Inc is a content delivery network for internet distribution of video, music, games and downloads. The Company's advanced content delivery network provides the world's top media companies high performance delivery of digital media and software via the Internet.
SmarTrend recommended that subscribers consider buying shares of Limelight Networks on December 3rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.00. Since that recommendation, shares of Limelight Networks have risen 18.0%. We continue to monitor LLNW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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