Short Interest in Crexendo, Inc. (NASDAQ:CXDO) Grows By 5.1%

Crexendo, Inc. (NASDAQ:CXDO) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 166,000 shares, a growth of 5.1% from the May 31st total of 158,000 shares. Based on an average daily volume of 116,900 shares, the short-interest ratio is currently 1.4 days. Currently, 1.5% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CXDO. B. Riley raised Crexendo from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $6.75 to $5.75 in a research report on Wednesday, May 8th. TheStreet raised Crexendo from a “d” rating to a “c” rating in a research report on Tuesday, March 19th. Finally, Lake Street Capital boosted their price target on shares of Crexendo from $5.50 to $7.00 and gave the company a “buy” rating in a report on Wednesday, March 6th.

Crexendo Stock Up 0.6 %

Shares of CXDO opened at $3.23 on Thursday. The company has a quick ratio of 1.97, a current ratio of 2.01 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $3.57 and a two-hundred day moving average price of $4.66. The stock has a market cap of $86.24 million, a price-to-earnings ratio of 64.60 and a beta of 1.17. Crexendo has a 12 month low of $1.49 and a 12 month high of $7.59.

Crexendo (NASDAQ:CXDO) last issued its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $14.29 million during the quarter, compared to analysts’ expectations of $14.10 million. Crexendo had a return on equity of 10.88% and a net margin of 3.01%. Equities analysts predict that Crexendo will post 0.13 EPS for the current fiscal year.

Insider Transactions at Crexendo

In other Crexendo news, insider Anand Buch sold 11,950 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $3.04, for a total value of $36,328.00. Following the sale, the insider now owns 548,139 shares of the company’s stock, valued at approximately $1,666,342.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have acquired 9,000 shares of company stock worth $30,890. Company insiders own 56.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. AJOVista LLC bought a new stake in shares of Crexendo in the 4th quarter worth about $47,000. Simplicity Wealth LLC acquired a new position in Crexendo in the first quarter valued at about $53,000. SG Americas Securities LLC bought a new stake in Crexendo during the first quarter worth about $55,000. Heron Bay Capital Management acquired a new stake in shares of Crexendo during the first quarter worth approximately $87,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Crexendo in the fourth quarter valued at approximately $108,000. 9.53% of the stock is currently 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 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.