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

Crexendo, Inc. (NASDAQ:CXDO) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 282,500 shares, an increase of 5.1% from the March 15th total of 268,800 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average trading volume of 265,000 shares, the days-to-cover ratio is presently 1.1 days.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CXDO. Vanguard Group Inc. increased its position in shares of Crexendo by 3.5% in the first quarter. Vanguard Group Inc. now owns 380,579 shares of the company’s stock valued at $1,382,000 after buying an additional 12,895 shares in the last quarter. Creative Planning acquired a new stake in Crexendo in the 2nd quarter worth about $1,753,000. Renaissance Technologies LLC acquired a new stake in Crexendo in the 4th quarter worth about $48,000. Millennium Management LLC purchased a new position in shares of Crexendo in the 4th quarter worth about $81,000. Finally, BlackRock Inc. raised its holdings in shares of Crexendo by 33.2% in the 2nd quarter. BlackRock Inc. now owns 25,055 shares of the company’s stock worth $44,000 after purchasing an additional 6,243 shares during the period. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Crexendo Stock Performance

Crexendo stock opened at $4.29 on Wednesday. Crexendo has a 12 month low of $1.24 and a 12 month high of $7.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.65 and a current ratio of 1.69. The business has a 50 day simple moving average of $5.44 and a 200-day simple moving average of $4.16.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings data on Tuesday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 positive return on equity of 6.60% and a negative net margin of 0.68%. During the same quarter in the prior year, the business posted $0.02 earnings per share. Equities research analysts anticipate that Crexendo will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

CXDO has been the topic of a number of recent research reports. B. Riley reiterated a “neutral” rating and set a $6.75 price target on shares of Crexendo in a research note on Wednesday, March 6th. Lake Street Capital boosted their price objective on Crexendo from $5.50 to $7.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, TheStreet raised Crexendo from a “d” rating to a “c” rating in a report on Tuesday, March 19th.

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.