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

Crexendo, Inc. (NASDAQ:CXDO) was the target of 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. Based on an average trading volume of 265,000 shares, the short-interest ratio is presently 1.1 days. Currently, 2.8% of the shares of the company are short sold.

Insider Activity at Crexendo

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Crexendo by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 425,310 shares of the company’s stock worth $2,063,000 after acquiring an additional 28,756 shares during the last quarter. Creative Planning bought a new position in Crexendo in the 2nd quarter valued at approximately $1,753,000. Virtu Financial LLC bought a new position in Crexendo in the 4th quarter valued at approximately $145,000. Renaissance Technologies LLC raised its holdings in Crexendo by 135.1% in the 2nd quarter. Renaissance Technologies LLC now owns 59,700 shares of the company’s stock valued at $105,000 after buying an additional 34,308 shares during the last quarter. Finally, Millennium Management LLC bought a new position in Crexendo in the 4th quarter valued at approximately $81,000. Institutional investors own 9.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CXDO shares. Lake Street Capital upped their price objective 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. TheStreet raised shares of Crexendo from a “d” rating to a “c” rating in a research report on Tuesday, March 19th. Finally, B. Riley reaffirmed a “neutral” rating and set a $6.75 price objective on shares of Crexendo in a research report on Wednesday, March 6th.

Crexendo Stock Performance

CXDO stock opened at $4.27 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.69 and a quick ratio of 1.65. Crexendo has a 12 month low of $1.24 and a 12 month high of $7.59. The firm has a 50-day moving average price of $5.41 and a 200-day moving average price of $4.16.

Crexendo (NASDAQ:CXDO) last posted its earnings results on Tuesday, March 5th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $14.16 million during the quarter, compared to analysts’ expectations of $13.76 million. Crexendo had a negative net margin of 0.68% and a positive return on equity of 6.60%. During the same quarter in the prior year, the business earned $0.02 earnings per share. Research analysts expect that Crexendo will post 0.08 EPS for the current 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.