Crexendo, Inc. (NASDAQ:CXDO) Short Interest Down 37.0% in March

Crexendo, Inc. (NASDAQ:CXDO) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 268,800 shares, a drop of 37.0% from the February 29th total of 427,000 shares. Based on an average trading volume of 279,100 shares, the short-interest ratio is currently 1.0 days. Currently, 2.6% of the shares of the stock are short sold.

Analyst Ratings Changes

Several equities 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. TheStreet raised shares of Crexendo from a “d” rating to a “c” rating in a research note on Tuesday, March 19th. Finally, Lake Street Capital increased their price target on Crexendo from $5.50 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th.

Crexendo Stock Up 3.9 %

CXDO traded up $0.18 during trading on Friday, hitting $4.81. 108,771 shares of the stock were exchanged, compared to its average volume of 278,671. The stock has a fifty day moving average price of $5.76 and a two-hundred day moving average price of $3.90. Crexendo has a 1-year low of $1.24 and a 1-year high of $7.59. The company has a current ratio of 1.69, a quick ratio of 1.65 and a debt-to-equity ratio of 0.01.

Crexendo (NASDAQ:CXDO) last announced its earnings results on Tuesday, March 5th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Crexendo had a positive return on equity of 6.60% and a negative net margin of 0.68%. The company had revenue of $14.16 million for the quarter, compared to the consensus estimate of $13.76 million. During the same period last year, the business posted $0.02 EPS. As a group, sell-side analysts predict that Crexendo will post 0.08 earnings per share for the current year.

Insider Activity at Crexendo

In other news, CTO David Tzat-Kin Wang sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $5.51, for a total value of $110,200.00. Following the completion of the sale, the chief technology officer now 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 available through this hyperlink. 56.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Crexendo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Crexendo by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 425,310 shares of the company’s stock worth $2,063,000 after acquiring an additional 28,756 shares during the last quarter. Creative Planning purchased a new stake in Crexendo during the second quarter valued at about $1,753,000. Virtu Financial LLC purchased a new stake in Crexendo during the fourth quarter valued at about $145,000. Renaissance Technologies LLC grew its position in Crexendo by 135.1% during the second quarter. Renaissance Technologies LLC now owns 59,700 shares of the company’s stock valued at $105,000 after acquiring an additional 34,308 shares during the period. Finally, Millennium Management LLC purchased a new stake in Crexendo during the fourth quarter valued at about $81,000. 9.53% of the stock is owned by institutional investors and hedge funds.

Crexendo Company Profile

Crexendo, Inc provides cloud communication platform and services, video collaboration, and managed IT services for businesses in the United States, Canada, and internationally. It operates through two segments, Cloud Telecommunications 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.