Crexendo (NASDAQ:CXDO) Stock Price Down 3.8% – Should You Sell?

Crexendo Inc. (NASDAQ:CXDO)’s share price traded down 3.8% on Monday. The stock traded as low as $5.80 and last traded at $5.86. 227,373 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 312,173 shares. The stock had previously closed at $6.09.

Analysts Set New Price Targets

A number of research firms have commented on CXDO. Weiss Ratings restated a “hold (c+)” rating on shares of Crexendo in a research note on Monday, August 3rd. B. Riley Financial dropped their price objective on Crexendo from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Crexendo has an average rating of “Moderate Buy” and a consensus price target of $10.50.

Crexendo Stock Performance

The company has a market capitalization of $194.84 million, a price-to-earnings ratio of 41.86 and a beta of 1.11. The company has a current ratio of 2.06, a quick ratio of 1.98 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $6.33 and its 200-day simple moving average is $7.14.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. The business had revenue of $24.65 million during the quarter, compared to the consensus estimate of $24.65 million. Crexendo had a net margin of 5.31% and a return on equity of 14.34%. Analysts predict that Crexendo Inc. will post 0.34 EPS for the current year.

Insider Transactions at Crexendo

In related news, CTO David Wang sold 25,000 shares of Crexendo stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $6.50, for a total value of $162,500.00. Following the completion of the transaction, the chief technology officer directly owned 534,747 shares in the company, valued at approximately $3,475,855.50. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 47.20% of the company’s stock.

Institutional Investors Weigh In On Crexendo

Several large investors have recently bought and sold shares of the stock. D.A. Davidson & CO. raised its position in Crexendo by 3.5% in the 1st quarter. D.A. Davidson & CO. now owns 38,463 shares of the company’s stock valued at $237,000 after purchasing an additional 1,311 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Crexendo during the second quarter worth about $82,000. Deutsche Bank AG purchased a new stake in shares of Crexendo during the second quarter worth approximately $138,000. NewEdge Advisors LLC raised its holdings in Crexendo by 75.3% in the second quarter. NewEdge Advisors LLC now owns 47,897 shares of the company’s stock valued at $358,000 after acquiring an additional 20,569 shares in the last quarter. Finally, Diversify Wealth Management LLC purchased a new position in Crexendo in the first quarter worth approximately $139,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

About Crexendo

Crexendo, Inc is a cloud communications technology company that provides unified communications and collaboration services for businesses. Its offerings include cloud-based business phone systems, voice and video communications, messaging, contact center capabilities, collaboration tools and related communications services.

The company also provides technology through its NetSapiens subsidiary, which develops a communications platform used by service providers, resellers and other channel partners to deliver hosted voice and unified communications services.