Short Interest in Crexendo, Inc. (NASDAQ:CXDO) Grows By 5.1%

Crexendo, Inc. (NASDAQ:CXDO) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 166,000 shares, an increase of 5.1% from the May 31st total of 158,000 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average trading volume of 116,900 shares, the short-interest ratio is currently 1.4 days.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CXDO shares. Lake Street Capital lifted their target price on shares of Crexendo from $5.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. B. Riley upgraded Crexendo from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $6.75 to $5.75 in a research report on Wednesday, May 8th. Finally, TheStreet upgraded Crexendo from a “d” rating to a “c” rating in a report on Tuesday, March 19th.

Insider Activity

In related news, insider Anand Buch sold 11,950 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $3.04, for a total value of $36,328.00. Following the sale, the insider now owns 548,139 shares in the company, valued at approximately $1,666,342.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders purchased 9,000 shares of company stock worth $30,890. Company insiders own 56.20% of the company’s stock.

Institutional Investors Weigh In On Crexendo

Several hedge funds have recently made changes to their positions in the business. AJOVista LLC acquired a new position in Crexendo in the fourth quarter valued at $47,000. Hillsdale Investment Management Inc. acquired a new position in shares of Crexendo during the 4th quarter valued at about $108,000. Simplicity Wealth LLC acquired a new position in shares of Crexendo during the 1st quarter valued at about $53,000. SG Americas Securities LLC purchased a new position in shares of Crexendo during the 1st quarter worth about $55,000. Finally, Vanguard Group Inc. boosted its position in shares of Crexendo by 7.2% in the first quarter. Vanguard Group Inc. now owns 455,956 shares of the company’s stock worth $2,193,000 after acquiring an additional 30,646 shares during the last quarter. Institutional investors and hedge funds own 9.53% of the company’s stock.

Crexendo Price Performance

NASDAQ:CXDO opened at $3.23 on Thursday. Crexendo has a 12-month low of $1.49 and a 12-month high of $7.59. The firm has a market cap of $86.24 million, a price-to-earnings ratio of 64.60 and a beta of 1.17. The company’s 50-day moving average is $3.57 and its two-hundred day moving average is $4.66. The company has a current ratio of 2.01, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01.

Crexendo (NASDAQ:CXDO) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. Crexendo had a net margin of 3.01% and a return on equity of 10.88%. The business had revenue of $14.29 million for the quarter, compared to the consensus estimate of $14.10 million. Research analysts expect that Crexendo will post 0.13 EPS for the current year.

About Crexendo

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.