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

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. B. Riley reiterated a “neutral” rating and issued a $6.75 target price on shares of Crexendo in a research note on Wednesday, March 6th. Lake Street Capital increased their price target on shares of Crexendo from $5.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, TheStreet raised shares of Crexendo from a “d” rating to a “c” rating in a report on Tuesday, March 19th.

Insider Activity at Crexendo

In related news, CTO David Tzat-Kin Wang sold 20,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $5.51, for a total value of $110,200.00. Following the transaction, the chief technology officer now directly owns 437,402 shares in the company, valued at approximately $2,410,085.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 56.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Crexendo

A number of hedge funds and other institutional investors have recently made changes to their positions in CXDO. BlackRock Inc. lifted its holdings in shares of Crexendo by 33.2% during the 2nd quarter. BlackRock Inc. now owns 25,055 shares of the company’s stock worth $44,000 after acquiring an additional 6,243 shares during the period. AJOVista LLC bought a new position in shares of Crexendo during the 4th quarter worth about $47,000. Renaissance Technologies LLC bought a new position in shares of Crexendo during the 4th quarter worth about $48,000. Dimensional Fund Advisors LP bought a new position in shares of Crexendo during the 4th quarter worth about $59,000. Finally, Millennium Management LLC bought a new position in Crexendo during the 4th quarter valued at about $81,000. 9.53% of the stock is owned by institutional investors.

Crexendo Stock Down 0.5 %

Shares of Crexendo stock opened at $4.27 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.69 and a quick ratio of 1.65. Crexendo has a fifty-two week low of $1.24 and a fifty-two week high of $7.59. The firm has a fifty day moving average price of $5.41 and a two-hundred day moving average price of $4.16.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings data on Tuesday, March 5th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $14.16 million during the quarter, compared to the consensus estimate of $13.76 million. Crexendo had a negative net margin of 0.68% and a positive return on equity of 6.60%. During the same period last year, the firm earned $0.02 EPS. Equities analysts anticipate that Crexendo will post 0.08 EPS for the current year.

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.