Crexendo, Inc. (NASDAQ:CXDO) Short Interest Update

Crexendo, Inc. (NASDAQ:CXDO) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 229,300 shares, an increase of 5.3% from the August 15th total of 217,800 shares. Currently, 2.0% of the company’s shares are short sold. Based on an average trading volume of 144,500 shares, the short-interest ratio is presently 1.6 days.

Insider Transactions at Crexendo

In related news, CTO David Tzat-Kin Wang sold 20,500 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $5.25, for a total value of $107,625.00. Following the completion of the sale, the chief technology officer now owns 439,327 shares of the company’s stock, valued at $2,306,466.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO David Tzat-Kin Wang sold 20,500 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $5.25, for a total value of $107,625.00. Following the transaction, the chief technology officer now directly owns 439,327 shares in the company, valued at $2,306,466.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anand Buch sold 20,501 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $4.91, for a total value of $100,659.91. Following the sale, the insider now directly owns 548,139 shares of the company’s stock, valued at approximately $2,691,362.49. The disclosure for this sale can be found here. Insiders have sold a total of 107,903 shares of company stock worth $545,862 in the last quarter. Company insiders own 56.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Creative Planning raised its stake in Crexendo by 165.4% during the 2nd quarter. Creative Planning now owns 1,408,151 shares of the company’s stock worth $4,429,000 after acquiring an additional 877,554 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Crexendo by 49.9% during the second quarter. Marshall Wace LLP now owns 150,723 shares of the company’s stock worth $475,000 after purchasing an additional 50,148 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Crexendo by 229.9% during the second quarter. Renaissance Technologies LLC now owns 364,565 shares of the company’s stock worth $1,147,000 after purchasing an additional 254,065 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Crexendo by 476.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 101,273 shares of the company’s stock valued at $319,000 after purchasing an additional 83,702 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Crexendo by 73.1% in the 2nd quarter. Acadian Asset Management LLC now owns 218,345 shares of the company’s stock valued at $685,000 after purchasing an additional 92,196 shares during the period. Institutional investors and hedge funds own 9.53% of the company’s stock.

Crexendo Stock Up 2.9 %

Shares of Crexendo stock traded up $0.13 during trading hours on Thursday, reaching $4.64. 19,638 shares of the company were exchanged, compared to its average volume of 179,607. The stock’s fifty day moving average is $4.48 and its 200 day moving average is $4.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.04 and a current ratio of 2.10. The firm has a market cap of $123.89 million, a PE ratio of 91.40 and a beta of 1.19. Crexendo has a 1 year low of $1.54 and a 1 year high of $7.59.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $14.69 million during the quarter, compared to analysts’ expectations of $14.18 million. Crexendo had a return on equity of 12.86% and a net margin of 4.89%. As a group, equities research analysts forecast that Crexendo will post 0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, B. Riley boosted their price target on shares of Crexendo from $5.75 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th.

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.