Short Interest in Crexendo, Inc. (NASDAQ:CXDO) Grows By 18.5%

Crexendo, Inc. (NASDAQ:CXDO - Get Free Report) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 225,000 shares, an increase of 18.5% from the April 30th total of 189,800 shares. Based on an average daily volume of 190,800 shares, the short-interest ratio is presently 1.2 days. Currently, 1.8% of the company's shares are sold short.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CXDO shares. D. Boral Capital reissued a "buy" rating and issued a $10.00 price objective on shares of Crexendo in a research note on Wednesday, May 7th. B. Riley reissued a "buy" rating and set a $7.50 price target (up previously from $6.75) on shares of Crexendo in a research report on Wednesday, March 5th. Finally, Craig Hallum initiated coverage on Crexendo in a research note on Monday, April 7th. They set a "buy" rating and a $8.00 price target on the stock.

Crexendo Stock Up 3.4%

Shares of NASDAQ CXDO traded up $0.19 during mid-day trading on Friday, reaching $5.70. 115,952 shares of the company were exchanged, compared to its average volume of 161,434. Crexendo has a 1 year low of $2.92 and a 1 year high of $7.34. The firm has a 50-day moving average of $5.09 and a 200 day moving average of $5.45. The stock has a market cap of $165.48 million, a price-to-earnings ratio of 190.06 and a beta of 1.12.

Insider Buying and Selling at Crexendo

In other Crexendo news, CTO David Tzat-Kin Wang sold 392,610 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $4.90, for a total transaction of $1,923,789.00. Following the completion of the transaction, the chief technology officer now owns 445,995 shares in the company, valued at $2,185,375.50. The trade was a 46.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Douglas Walter Gaylor sold 10,000 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $6.27, for a total value of $62,700.00. Following the completion of the transaction, the chief operating officer now directly owns 230,007 shares in the company, valued at $1,442,143.89. This trade represents a 4.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 642,086 shares of company stock worth $3,308,607 over the last ninety days. Company insiders own 56.20% of the company's stock.

Institutional Trading of Crexendo

Several hedge funds have recently modified their holdings of CXDO. Acadian Asset Management LLC raised its stake in shares of Crexendo by 384.1% during the 1st quarter. Acadian Asset Management LLC now owns 337,787 shares of the company's stock worth $1,643,000 after acquiring an additional 268,004 shares in the last quarter. Perkins Capital Management Inc. grew its holdings in Crexendo by 241.2% in the first quarter. Perkins Capital Management Inc. now owns 170,600 shares of the company's stock worth $831,000 after purchasing an additional 120,600 shares during the last quarter. Informed Momentum Co LLC purchased a new position in Crexendo in the first quarter worth $551,000. Goldman Sachs Group Inc. acquired a new position in shares of Crexendo during the first quarter worth $431,000. Finally, Dimensional Fund Advisors LP lifted 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. 9.53% of the stock is owned by hedge funds and other 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.