Crexendo, Inc. (NASDAQ:CXDO) Short Interest Up 50.5% in March

Crexendo, Inc. (NASDAQ:CXDO) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 319,100 shares, an increase of 50.5% from the February 28th total of 212,000 shares. Approximately 2.6% of the company’s stock are short sold. Based on an average daily volume of 190,500 shares, the short-interest ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. D. Boral Capital upped their target price on shares of Crexendo from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. B. Riley restated a “buy” rating and set a $7.50 price objective (up previously from $6.75) on shares of Crexendo in a research note on Wednesday, March 5th.

Insider Transactions at Crexendo

In related news, COO Douglas Walter Gaylor sold 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $6.27, for a total value of $62,700.00. Following the completion of the transaction, the chief operating officer now owns 230,007 shares of the company’s stock, valued at approximately $1,442,143.89. This represents a 4.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO David Tzat-Kin Wang sold 229,476 shares of Crexendo stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $5.50, for a total value of $1,262,118.00. Following the sale, the chief technology officer now owns 445,995 shares in the company, valued at $2,452,972.50. This represents a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,476 shares of company stock valued at $1,384,818. Corporate insiders own 56.20% of the company’s stock.

Institutional Investors Weigh In On Crexendo

Institutional investors have recently modified their holdings of the business. Barclays PLC bought a new position in shares of Crexendo during the third quarter valued at approximately $109,000. Geode Capital Management LLC boosted its position in Crexendo by 18.4% during the 3rd quarter. Geode Capital Management LLC now owns 140,193 shares of the company’s stock valued at $651,000 after purchasing an additional 21,739 shares during the period. ARS Investment Partners LLC bought a new position in Crexendo during the 4th quarter worth $243,000. Creative Financial Designs Inc. ADV bought a new position in Crexendo during the 4th quarter worth $44,000. Finally, Perkins Capital Management Inc. bought a new stake in Crexendo in the fourth quarter valued at $262,000. Institutional investors own 9.53% of the company’s stock.

Crexendo Price Performance

CXDO stock opened at $4.87 on Tuesday. The firm has a market cap of $135.88 million, a price-to-earnings ratio of 162.39 and a beta of 1.15. Crexendo has a 1-year low of $2.92 and a 1-year high of $7.34. The firm has a fifty day moving average price of $5.97 and a two-hundred day moving average price of $5.48.

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.