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

Crexendo, Inc. (NASDAQ:CXDO - Get Free Report) was the target of a large decrease in short interest in February. As of February 15th, there was short interest totalling 178,100 shares, a decrease of 14.0% from the January 31st total of 207,000 shares. Approximately 1.5% of the company's stock are short sold. Based on an average daily volume of 155,000 shares, the short-interest ratio is presently 1.1 days.

Crexendo Trading Down 4.1 %

Shares of Crexendo stock traded down $0.28 on Friday, hitting $6.47. 457,018 shares of the company traded hands, compared to its average volume of 150,576. The firm's 50-day simple moving average is $5.85 and its 200 day simple moving average is $5.37. The company has a market cap of $172.85 million, a P/E ratio of 215.74 and a beta of 1.15. Crexendo has a 12-month low of $2.92 and a 12-month high of $7.34.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CXDO. B. Riley reissued a "buy" rating and set a $7.50 target price (up from $6.75) on shares of Crexendo in a research report on Wednesday. D. Boral Capital increased their target price on shares of Crexendo from $7.00 to $10.00 and gave the company a "buy" rating in a research report on Thursday.

Insiders Place Their Bets

In other news, CEO Jeffrey G. Korn sold 7,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $5.25, for a total transaction of $36,750.00. Following the completion of the transaction, the chief executive officer now directly owns 249,730 shares of the company's stock, valued at $1,311,082.50. This represents a 2.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David Tzat-Kin Wang sold 6,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $5.15, for a total transaction of $30,900.00. Following the transaction, the chief technology officer now directly owns 443,079 shares of the company's stock, valued at $2,281,856.85. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 131,960 shares of company stock valued at $653,627. Corporate insiders own 56.20% of the company's stock.

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Institutional Trading of Crexendo

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its position in shares of Crexendo by 16.4% during the 4th quarter. Renaissance Technologies LLC now owns 274,100 shares of the company's stock valued at $1,434,000 after buying an additional 38,700 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Crexendo by 65.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 217,648 shares of the company's stock valued at $1,138,000 after purchasing an additional 86,162 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 last quarter. Two Sigma Investments LP grew its holdings in shares of Crexendo by 36.9% during the 4th quarter. Two Sigma Investments LP now owns 124,638 shares of the company's stock valued at $652,000 after purchasing an additional 33,602 shares during the last quarter. Finally, Integrated Quantitative Investments LLC bought a new position in shares of Crexendo during the 4th quarter valued at $304,000. Hedge funds and other institutional investors own 9.53% of the company's stock.

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.