Short Interest in Crexendo, Inc. (NASDAQ:CXDO) Increases By 19.0%

Crexendo, Inc. (NASDAQ:CXDO) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 212,000 shares, a growth of 19.0% from the February 13th total of 178,100 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average daily volume of 175,600 shares, the short-interest ratio is presently 1.2 days.

Crexendo Price Performance

Crexendo stock traded down $0.12 during mid-day trading on Tuesday, reaching $5.80. 118,679 shares of the company traded hands, compared to its average volume of 151,369. Crexendo has a fifty-two week low of $2.92 and a fifty-two week high of $7.34. The company has a market capitalization of $161.83 million, a price-to-earnings ratio of 193.40 and a beta of 1.15. The firm’s fifty day moving average is $5.94 and its two-hundred day moving average is $5.43.

Wall Street Analysts Forecast Growth

CXDO has been the subject of a number of analyst reports. B. Riley reissued a “buy” rating and set a $7.50 target price (up previously from $6.75) on shares of Crexendo in a research report on Wednesday, March 5th. D. Boral Capital increased their target price on shares of Crexendo from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, March 6th.

Insider Transactions at Crexendo

In related news, CTO David Tzat-Kin Wang sold 229,476 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $5.50, for a total transaction of $1,262,118.00. Following the completion of the sale, the chief technology officer now owns 445,995 shares of the company’s stock, valued at $2,452,972.50. This represents a 33.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Douglas Walter Gaylor sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $6.27, for a total transaction of $62,700.00. Following the sale, the chief operating officer now directly owns 230,007 shares of the company’s stock, valued at $1,442,143.89. The trade was a 4.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 249,476 shares of company stock valued at $1,384,818. Company insiders own 56.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Barclays PLC acquired a new position in Crexendo during the 3rd quarter valued at approximately $109,000. Geode Capital Management LLC increased its stake in Crexendo by 18.4% during the 3rd quarter. Geode Capital Management LLC now owns 140,193 shares of the company’s stock valued at $651,000 after purchasing an additional 21,739 shares in the last quarter. GSA Capital Partners LLP increased its stake in Crexendo by 41.2% during the 3rd quarter. GSA Capital Partners LLP now owns 17,598 shares of the company’s stock valued at $82,000 after purchasing an additional 5,139 shares in the last quarter. ARS Investment Partners LLC acquired a new position in Crexendo during the 4th quarter valued at approximately $243,000. Finally, NewEdge Advisors LLC increased its stake in Crexendo by 265.3% during the 4th quarter. NewEdge Advisors LLC now owns 57,858 shares of the company’s stock valued at $303,000 after purchasing an additional 42,020 shares in the last quarter. Institutional investors and hedge funds own 9.53% of the company’s stock.

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.