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

Crexendo, Inc. (NASDAQ:CXDO) saw a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 172,200 shares, a decline of 19.6% from the November 15th total of 214,200 shares. Approximately 1.5% of the company’s shares are sold short. Based on an average trading volume of 139,400 shares, the days-to-cover ratio is presently 1.2 days.

Insider Activity at Crexendo

In related news, CTO David Tzat-Kin Wang sold 6,000 shares of Crexendo stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $5.15, for a total transaction of $30,900.00. Following the completion of the sale, the chief technology officer now owns 443,079 shares in the company, valued at $2,281,856.85. This trade represents a 1.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey G. Korn sold 7,000 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $5.25, for a total transaction of $36,750.00. Following the completion of the sale, the chief executive officer now directly owns 249,730 shares of the company’s stock, valued at approximately $1,311,082.50. This trade represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,000 shares of company stock worth $247,650 in the last quarter. 56.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crexendo

Several institutional investors have recently made changes to their positions in CXDO. Essex Investment Management Co. LLC raised its stake in Crexendo by 1,473.9% in the third 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 in the last quarter. Renaissance Technologies LLC raised its position in shares of Crexendo by 229.9% in the 2nd quarter. Renaissance Technologies LLC now owns 364,565 shares of the company’s stock worth $1,147,000 after acquiring an additional 254,065 shares in the last quarter. Creative Planning lifted its stake in shares of Crexendo by 165.4% during the 2nd quarter. Creative Planning now owns 1,408,151 shares of the company’s stock worth $4,429,000 after purchasing an additional 877,554 shares during the last quarter. Vanguard Group Inc. boosted its position in Crexendo by 7.2% during the first quarter. Vanguard Group Inc. now owns 455,956 shares of the company’s stock valued at $2,193,000 after purchasing an additional 30,646 shares in the last quarter. Finally, Bailard Inc. purchased a new position in Crexendo in the second quarter valued at about $113,000. Hedge funds and other institutional investors own 9.53% of the company’s stock.

Crexendo Stock Performance

CXDO traded up $0.12 during trading on Friday, hitting $5.17. 165,363 shares of the stock were exchanged, compared to its average volume of 172,128. The firm has a 50 day simple moving average of $5.37 and a 200 day simple moving average of $4.51. The firm has a market cap of $138.12 million, a price-to-earnings ratio of 172.33 and a beta of 1.10. Crexendo has a 1 year low of $2.92 and a 1 year high of $7.59.

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.