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

Crexendo, Inc. (NASDAQ:CXDO) was the target of a large growth in short interest in 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 short sold.

Crexendo Price Performance

Shares of NASDAQ:CXDO opened at $4.29 on Wednesday. Crexendo has a 12-month low of $1.24 and a 12-month high of $7.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.69 and a quick ratio of 1.65. The company’s fifty day moving average is $5.44 and its two-hundred day moving average is $4.16.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $14.16 million for 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 in the prior year, the business posted $0.02 earnings per share. Equities research analysts predict that Crexendo will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CXDO. TheStreet upgraded Crexendo from a “d” rating to a “c” rating in a research report on Tuesday, March 19th. Lake Street Capital boosted their target price on shares of Crexendo from $5.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, B. Riley reissued a “neutral” rating and set a $6.75 target price on shares of Crexendo in a research note on Wednesday, March 6th.

Insider Buying and Selling

In other Crexendo news, CTO David Tzat-Kin Wang sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was 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 directly owns 437,402 shares in the company, valued at $2,410,085.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 56.60% of the company’s stock.

Institutional Investors Weigh In On Crexendo

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Crexendo by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 425,310 shares of the company’s stock valued at $2,063,000 after acquiring an additional 28,756 shares during the period. Virtu Financial LLC bought a new stake in Crexendo during the fourth quarter valued at about $145,000. Hillsdale Investment Management Inc. bought a new stake in Crexendo during the fourth quarter valued at about $108,000. Dimensional Fund Advisors LP bought a new stake in Crexendo during the fourth quarter valued at about $59,000. Finally, AJOVista LLC bought a new stake in Crexendo during the fourth quarter valued at about $47,000. 9.53% of the stock is currently owned by institutional investors.

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.