Short Interest in Crexendo, Inc. (NASDAQ:CXDO) Rises By 19.0%

Crexendo, Inc. (NASDAQ:CXDO - Get Free Report) was the recipient of a large increase in short interest in February. As of February 28th, there was short interest totalling 212,000 shares, an increase of 19.0% from the February 13th total of 178,100 shares. Based on an average daily trading volume, of 175,600 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.7% of the shares of the company are short sold.

Wall Street Analyst Weigh In

CXDO has been the topic of several research analyst reports. B. Riley reiterated a "buy" rating and issued a $7.50 price objective (up previously from $6.75) on shares of Crexendo in a research note on Wednesday, March 5th. D. Boral Capital increased their price target on Crexendo from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th.

Insiders Place Their Bets

In other news, COO Douglas Walter Gaylor sold 10,000 shares of Crexendo stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $6.27, for a total transaction of $62,700.00. Following the sale, the chief operating officer now directly owns 230,007 shares in the company, valued at $1,442,143.89. The trade was a 4.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO David Tzat-Kin Wang sold 229,476 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $5.50, for a total transaction of $1,262,118.00. Following the completion of the transaction, the chief technology officer now directly owns 445,995 shares in the company, valued at $2,452,972.50. This trade represents a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 249,476 shares of company stock valued at $1,384,818 in the last 90 days. 56.20% of the stock is currently owned by corporate insiders.

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Institutional Trading of Crexendo

A number of large investors have recently modified their holdings of CXDO. Two Sigma Investments LP increased its position in shares of Crexendo by 36.9% in the fourth quarter. Two Sigma Investments LP now owns 124,638 shares of the company's stock worth $652,000 after purchasing an additional 33,602 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Crexendo in the 4th quarter worth $206,000. Bank of America Corp DE increased its holdings in shares of Crexendo by 71.7% in the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company's stock worth $32,000 after buying an additional 2,578 shares during the last quarter. Jane Street Group LLC raised its position in shares of Crexendo by 93.1% during the 4th quarter. Jane Street Group LLC now owns 23,075 shares of the company's stock valued at $121,000 after buying an additional 11,128 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Crexendo during the 4th quarter worth $69,000. Institutional investors own 9.53% of the company's stock.

Crexendo Stock Up 0.9 %

Shares of NASDAQ:CXDO traded up $0.05 during midday trading on Friday, reaching $5.51. 127,209 shares of the company traded hands, compared to its average volume of 151,730. Crexendo has a 12 month low of $2.92 and a 12 month high of $7.34. The firm's fifty day moving average price is $5.96 and its two-hundred day moving average price is $5.43. The firm has a market capitalization of $153.73 million, a price-to-earnings ratio of 183.73 and a beta of 1.15.

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.