Crexendo, Inc. (NASDAQ:CXDO) Short Interest Up 42.8% in December

Crexendo, Inc. (NASDAQ:CXDO) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 245,900 shares, a growth of 42.8% from the November 30th total of 172,200 shares. Approximately 2.0% of the company’s shares are sold short. Based on an average daily volume of 155,600 shares, the days-to-cover ratio is currently 1.6 days.

Crexendo Trading Down 1.9 %

NASDAQ:CXDO traded down $0.10 during midday trading on Monday, reaching $5.24. The company had a trading volume of 140,753 shares, compared to its average volume of 171,921. The stock’s fifty day simple moving average is $5.35 and its 200-day simple moving average is $4.66. Crexendo has a 12-month low of $2.92 and a 12-month high of $7.59. The firm has a market capitalization of $139.99 million, a price-to-earnings ratio of 174.72 and a beta of 1.10.

Insider Buying and Selling at Crexendo

In related news, COO Douglas Walter Gaylor sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $6.00, for a total transaction of $180,000.00. Following the completion of the sale, the chief operating officer now directly owns 219,083 shares of the company’s stock, valued at approximately $1,314,498. This trade represents a 12.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey G. Korn sold 7,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.25, for a total transaction of $36,750.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 161,960 shares of company stock worth $833,627 in the last ninety days. 56.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Crexendo

A number of institutional investors and hedge funds have recently modified their holdings of CXDO. Acadian Asset Management LLC lifted its stake in Crexendo by 73.1% during the second quarter. Acadian Asset Management LLC now owns 218,345 shares of the company’s stock worth $685,000 after purchasing an additional 92,196 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Crexendo by 476.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 101,273 shares of the company’s stock worth $319,000 after buying an additional 83,702 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Crexendo by 229.9% in the 2nd quarter. Renaissance Technologies LLC now owns 364,565 shares of the company’s stock valued at $1,147,000 after buying an additional 254,065 shares in the last quarter. Marshall Wace LLP grew its position in shares of Crexendo by 49.9% in the 2nd quarter. Marshall Wace LLP now owns 150,723 shares of the company’s stock valued at $475,000 after buying an additional 50,148 shares during the last quarter. Finally, Creative Planning raised its stake in 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 acquiring an additional 877,554 shares in the last quarter. Institutional investors and hedge funds own 9.53% of the company’s stock.

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.