Crexendo (NASDAQ:CXDO) Shares Break Above 50-Day Moving Average – What’s Next?

Crexendo Inc. (NASDAQ:CXDO) shares passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $5.92 and traded as high as $6.16. Crexendo shares last traded at $6.15, with a volume of 221,112 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on CXDO shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Crexendo in a report on Monday, August 3rd. B. Riley Financial reduced their price objective on Crexendo from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.50.

Crexendo Stock Down 6.9%

The firm’s fifty day moving average price is $5.90 and its 200-day moving average price is $6.88. The company has a market capitalization of $193.21 million, a price-to-earnings ratio of 41.36 and a beta of 1.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.06 and a quick ratio of 1.98.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $24.65 million for the quarter, compared to the consensus estimate of $24.65 million. Crexendo had a return on equity of 14.34% and a net margin of 5.31%. Sell-side analysts expect that Crexendo Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Crexendo

In other news, CTO David Wang sold 25,000 shares of Crexendo stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $6.50, for a total transaction of $162,500.00. Following the sale, the chief technology officer directly owned 534,747 shares of the company’s stock, valued at approximately $3,475,855.50. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 34.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Crexendo in the second quarter worth $7,957,000. Bard Associates Inc. acquired a new position in Crexendo during the 2nd quarter worth about $2,689,000. Arrowstreet Capital Limited Partnership lifted its holdings in Crexendo by 26.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,442 shares of the company’s stock worth $2,508,000 after buying an additional 85,943 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Crexendo by 15.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 380,327 shares of the company’s stock valued at $2,346,000 after buying an additional 52,200 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Crexendo by 52.3% in the first quarter. Renaissance Technologies LLC now owns 346,737 shares of the company’s stock valued at $2,139,000 after acquiring an additional 119,037 shares during the last quarter. Institutional investors and hedge funds own 9.53% of the company’s stock.

Crexendo Company Profile

Crexendo, Inc is a provider of cloud-based communications and technology services. The company offers unified communications as a service, business voice and messaging solutions, video conferencing, contact center capabilities, and related communications tools designed for small and medium-sized businesses, enterprises, and service providers.

Crexendo also provides a communications software platform through its NetSapiens business. The platform supports hosted voice, unified communications, contact center, and application programming interface services, enabling telecommunications providers and channel partners to deliver branded communications solutions to their customers.

Founded in 1995 and headquartered in Arizona, Crexendo serves customers primarily through direct sales, resellers, agents, and other channel partners.