Short Interest in Crexendo, Inc. (NASDAQ:CXDO) Expands By 42.8%

Crexendo, Inc. (NASDAQ:CXDO - Get Free Report) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 245,900 shares, a growth of 42.8% from the November 30th total of 172,200 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average daily trading volume, of 155,600 shares, the short-interest ratio is presently 1.6 days.

Crexendo Stock Down 1.9 %

Shares of Crexendo stock traded down $0.10 during trading hours on Monday, reaching $5.24. 140,773 shares of the stock traded hands, compared to its average volume of 171,921. Crexendo has a one year low of $2.92 and a one year high of $7.59. The firm has a market capitalization of $139.99 million, a price-to-earnings ratio of 174.72 and a beta of 1.10. The company has a 50 day moving average price of $5.35 and a 200 day moving average price of $4.66.

Insider Activity at Crexendo

In other news, COO Douglas Walter Gaylor sold 30,000 shares of the firm's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $6.00, for a total value of $180,000.00. Following the transaction, the chief operating officer now directly owns 219,083 shares in the company, valued at $1,314,498. This trade represents a 12.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO David Tzat-Kin Wang sold 106,667 shares of Crexendo stock in a transaction on Monday, December 16th. The stock was sold at an average price of $4.90, for a total value of $522,668.30. Following the completion of the sale, the chief technology officer now directly owns 443,079 shares of the company's stock, valued at $2,171,087.10. The trade was a 19.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 161,960 shares of company stock valued at $833,627 over the last ninety days. Insiders own 56.20% of the company's stock.

Hedge Funds Weigh In On Crexendo

Institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning raised its position in Crexendo by 165.4% in the second quarter. Creative Planning now owns 1,408,151 shares of the company's stock worth $4,429,000 after acquiring an additional 877,554 shares during the period. Essex Investment Management Co. LLC raised its holdings in Crexendo by 1,473.9% in the 3rd quarter. Essex Investment Management Co. LLC now owns 828,759 shares of the company's stock worth $3,845,000 after purchasing an additional 776,102 shares during the period. Renaissance Technologies LLC lifted its position in Crexendo by 229.9% during the second quarter. Renaissance Technologies LLC now owns 364,565 shares of the company's stock valued at $1,147,000 after purchasing an additional 254,065 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Crexendo by 73.1% during the second quarter. Acadian Asset Management LLC now owns 218,345 shares of the company's stock valued at $685,000 after purchasing an additional 92,196 shares during the period. Finally, Marshall Wace LLP increased its position in Crexendo by 49.9% in the second quarter. Marshall Wace LLP now owns 150,723 shares of the company's stock worth $475,000 after buying an additional 50,148 shares in the last quarter. Hedge funds and other institutional investors own 9.53% of the company's stock.

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.