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

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. B. Riley reaffirmed a “neutral” rating and set a $6.75 target price on shares of Crexendo in a report on Wednesday, March 6th. TheStreet raised shares of Crexendo from a “d” rating to a “c” rating in a report on Tuesday, March 19th. Finally, Lake Street Capital increased their price target on shares of Crexendo from $5.50 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th.

Insider Activity at Crexendo

In related 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 shares were sold at an average price of $5.51, for a total transaction of $110,200.00. Following the sale, the chief technology officer now directly owns 437,402 shares in the company, valued at approximately $2,410,085.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 56.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. AJOVista LLC bought a new stake in shares of Crexendo in the fourth quarter worth approximately $47,000. Dimensional Fund Advisors LP purchased a new position in Crexendo during the fourth quarter valued at approximately $59,000. Hillsdale Investment Management Inc. purchased a new position in Crexendo during the fourth quarter valued at approximately $108,000. BlackRock Inc. lifted its holdings in shares of Crexendo by 33.2% in the second quarter. BlackRock Inc. now owns 25,055 shares of the company’s stock worth $44,000 after buying an additional 6,243 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Crexendo in the fourth quarter worth $48,000. 9.53% of the stock is owned by hedge funds and other institutional investors.

Crexendo Trading Up 3.9 %

Shares of NASDAQ:CXDO traded up $0.18 on Friday, hitting $4.81. The company had a trading volume of 108,771 shares, compared to its average volume of 278,671. The firm’s 50-day simple moving average is $5.76 and its two-hundred day simple moving average is $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 issued its quarterly earnings results on Tuesday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Crexendo had a negative net margin of 0.68% and a positive return on equity of 6.60%. The company had revenue of $14.16 million during the quarter, compared to analysts’ expectations of $13.76 million. During the same period last year, the company posted $0.02 EPS. On average, equities analysts predict that Crexendo will post 0.08 earnings per share for the current year.

About Crexendo

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.