Crexendo, Inc. (NASDAQ:CXDO) Short Interest Up 5.3% in August

Crexendo, Inc. (NASDAQ:CXDO) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 229,300 shares, a growth of 5.3% from the August 15th total of 217,800 shares. Based on an average trading volume of 144,500 shares, the short-interest ratio is currently 1.6 days. Currently, 2.0% of the company’s stock are sold short.

Insider Transactions at Crexendo

In related news, insider Anand Buch sold 20,501 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $4.91, for a total value of $100,659.91. Following the completion of the transaction, the insider now directly owns 548,139 shares of the company’s stock, valued at approximately $2,691,362.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Anand Buch sold 20,501 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $4.91, for a total value of $100,659.91. Following the completion of the transaction, the insider now owns 548,139 shares in the company, valued at approximately $2,691,362.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO David Tzat-Kin Wang sold 20,500 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $5.25, for a total value of $107,625.00. Following the sale, the chief technology officer now owns 439,327 shares in the company, valued at approximately $2,306,466.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 107,903 shares of company stock worth $545,862. Insiders own 56.20% of the company’s stock.

Hedge Funds Weigh In On Crexendo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CXDO. Creative Planning raised its position in shares of Crexendo by 165.4% during the 2nd quarter. Creative Planning now owns 1,408,151 shares of the company’s stock worth $4,429,000 after purchasing an additional 877,554 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Crexendo by 49.9% during the second quarter. Marshall Wace LLP now owns 150,723 shares of the company’s stock valued at $475,000 after acquiring an additional 50,148 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Crexendo by 229.9% in the second quarter. Renaissance Technologies LLC now owns 364,565 shares of the company’s stock valued at $1,147,000 after acquiring an additional 254,065 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Crexendo by 476.4% during the second quarter. Dimensional Fund Advisors LP now owns 101,273 shares of the company’s stock worth $319,000 after purchasing an additional 83,702 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Crexendo by 73.1% in the 2nd 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 in the last quarter. 9.53% of the stock is owned by hedge funds and other institutional investors.

Crexendo Stock Performance

NASDAQ CXDO traded up $0.13 during mid-day trading on Thursday, reaching $4.64. 19,638 shares of the stock were exchanged, compared to its average volume of 179,607. Crexendo has a 1 year low of $1.54 and a 1 year high of $7.59. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.04 and a current ratio of 2.10. The business’s 50 day moving average is $4.48 and its 200-day moving average is $4.23. The company has a market capitalization of $123.89 million, a P/E ratio of 91.40 and a beta of 1.19.

Crexendo (NASDAQ:CXDO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $14.69 million for the quarter, compared to analyst estimates of $14.18 million. Crexendo had a return on equity of 12.86% and a net margin of 4.89%. On average, equities research analysts forecast that Crexendo will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, B. Riley lifted their price target on Crexendo from $5.75 to $6.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th.

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.