Crexendo, Inc. (NASDAQ:CXDO) Sees Significant Growth in Short Interest

Crexendo, Inc. (NASDAQ:CXDO) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 282,500 shares, a growth of 5.1% from the March 15th total of 268,800 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average daily volume of 265,000 shares, the short-interest ratio is presently 1.1 days.

Insider Activity at Crexendo

In other Crexendo news, CTO David Tzat-Kin Wang sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $5.51, for a total transaction of $110,200.00. Following the sale, the chief technology officer now directly owns 437,402 shares of the company’s stock, valued at $2,410,085.02. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 56.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. AJOVista LLC purchased a new stake in shares of Crexendo in the fourth quarter valued at approximately $47,000. Dimensional Fund Advisors LP purchased a new stake in shares of Crexendo in the fourth quarter valued at approximately $59,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Crexendo in the fourth quarter valued at approximately $108,000. BlackRock Inc. boosted its holdings in shares of Crexendo by 33.2% in the second quarter. BlackRock Inc. now owns 25,055 shares of the company’s stock valued at $44,000 after purchasing an additional 6,243 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Crexendo in the fourth quarter worth approximately $48,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CXDO shares. Lake Street Capital lifted their target price on Crexendo from $5.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. B. Riley reaffirmed a “neutral” rating and issued a $6.75 target price on shares of Crexendo in a report on Wednesday, March 6th. Finally, TheStreet raised Crexendo from a “d” rating to a “c” rating in a report on Tuesday, March 19th.

Crexendo Stock Down 2.5 %

CXDO traded down $0.11 on Tuesday, hitting $4.29. The company had a trading volume of 103,480 shares, compared to its average volume of 254,830. Crexendo has a 12-month low of $1.24 and a 12-month high of $7.59. The company has a current ratio of 1.69, a quick ratio of 1.65 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $5.48 and its 200 day simple moving average is $4.15.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings results on Tuesday, March 5th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $14.16 million during the quarter, compared to analyst estimates of $13.76 million. Crexendo had a positive return on equity of 6.60% and a negative net margin of 0.68%. During the same quarter last year, the business posted $0.02 earnings per share. As a group, equities research analysts predict that Crexendo will post 0.08 earnings per share for the current fiscal year.

Crexendo Company Profile

Crexendo, Inc provides cloud communication platform and services, video collaboration, and managed IT services for businesses in the United States and internationally. It operates through two segments, Cloud Telecommunications Services and Software Solutions. The Cloud Telecommunications segment provides telecommunications services that transmit calls using Internet protocol (IP) or cloud technology, which converts voice signals into digital data packets for transmission over the Internet or cloud; and broadband Internet services, as well as develops end user portals for account and license management, and billing and customer support.