Crexendo, Inc. (NASDAQ:CXDO) Sees Large Growth in Short Interest

Crexendo, Inc. (NASDAQ:CXDO) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 214,200 shares, a growth of 10.0% from the October 31st total of 194,800 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 139,200 shares, the short-interest ratio is presently 1.5 days.

Insiders Place Their Bets

In other news, COO Douglas Walter Gaylor sold 30,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $6.00, for a total value of $180,000.00. Following the completion of the sale, the chief operating officer now owns 219,083 shares in the company, valued at approximately $1,314,498. The trade was a 12.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 56.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crexendo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning lifted its stake in shares of Crexendo by 165.4% in the second quarter. Creative Planning now owns 1,408,151 shares of the company’s stock worth $4,429,000 after buying an additional 877,554 shares during the last quarter. Essex Investment Management Co. LLC boosted its holdings in shares of Crexendo by 1,473.9% during the 3rd quarter. Essex Investment Management Co. LLC now owns 828,759 shares of the company’s stock worth $3,845,000 after buying an additional 776,102 shares during the period. Vanguard Group Inc. grew its holdings in shares of Crexendo by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 455,956 shares of the company’s stock worth $2,193,000 after purchasing an additional 30,646 shares in the last quarter. Renaissance Technologies LLC grew its position in Crexendo by 229.9% in the second quarter. Renaissance Technologies LLC now owns 364,565 shares of the company’s stock valued at $1,147,000 after acquiring an additional 254,065 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in 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 acquiring an additional 92,196 shares during the period. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Analyst Ratings Changes

Separately, B. Riley raised 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.

Crexendo Stock Up 0.6 %

CXDO stock traded up $0.03 on Monday, reaching $5.41. 156,498 shares of the company’s stock were exchanged, compared to its average volume of 172,860. Crexendo has a twelve month low of $2.92 and a twelve month high of $7.59. The firm has a market cap of $144.53 million, a PE ratio of 180.33 and a beta of 1.15. The stock has a fifty day moving average of $5.23 and a 200-day moving average of $4.41.

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.