Crexendo, Inc. (NASDAQ:CXDO) Sees Significant Growth in Short Interest

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 trading volume, of 116,900 shares, the short-interest ratio is presently 1.4 days. Approximately 1.5% of the company’s shares are sold short.

Crexendo Stock Performance

Shares of CXDO stock opened at $3.23 on Friday. The stock has a market capitalization of $86.24 million, a price-to-earnings ratio of 64.60 and a beta of 1.17. Crexendo has a one year low of $1.49 and a one year high of $7.59. The company’s 50-day simple moving average is $3.55 and its 200-day simple moving average is $4.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 2.01.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CXDO. B. Riley raised shares of Crexendo from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $6.75 to $5.75 in a research report on Wednesday, May 8th. TheStreet upgraded shares of Crexendo from a “d” rating to a “c” rating in a report on Tuesday, March 19th.

Insider Activity at Crexendo

In other news, insider Anand Buch sold 11,950 shares of Crexendo stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $3.04, for a total value of $36,328.00. Following the transaction, the insider now directly owns 548,139 shares of the company’s stock, valued at approximately $1,666,342.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have bought 9,000 shares of company stock valued at $30,890. Company insiders own 56.20% of the company’s stock.

Hedge Funds Weigh In On Crexendo

Several large investors have recently added to or reduced their stakes in the company. AJOVista LLC bought a new stake in Crexendo during the fourth quarter valued at $47,000. Simplicity Wealth LLC acquired a new position in shares of Crexendo in the 1st quarter valued at about $53,000. SG Americas Securities LLC bought a new stake in shares of Crexendo during the 1st quarter valued at about $55,000. Heron Bay Capital Management acquired a new stake in Crexendo during the first quarter worth about $87,000. Finally, Hillsdale Investment Management Inc. bought a new position in Crexendo in the fourth quarter worth about $108,000. 9.53% of the stock is currently owned by institutional investors.

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.