Crexendo (NASDAQ:CXDO) Shares Down 5.1%

Crexendo, Inc. (NASDAQ:CXDO)’s share price was down 5.1% on Wednesday . The stock traded as low as $3.83 and last traded at $3.87. Approximately 66,107 shares traded hands during trading, a decline of 65% from the average daily volume of 186,496 shares. The stock had previously closed at $4.08.

Analyst Ratings Changes

Separately, B. Riley raised shares of Crexendo from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $6.75 to $5.75 in a research note on Wednesday, May 8th.

Crexendo Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.01 and a quick ratio of 1.97. The company’s 50 day moving average price is $3.41 and its 200 day moving average price is $4.57. The firm has a market capitalization of $106.27 million, a P/E ratio of 79.60 and a beta of 1.17.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. Crexendo had a net margin of 3.01% and a return on equity of 10.88%. The business had revenue of $14.29 million for the quarter, compared to analysts’ expectations of $14.10 million. As a group, sell-side analysts anticipate that Crexendo, Inc. will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling at Crexendo

In other Crexendo news, insider Anand Buch sold 11,950 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were 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 $1,666,342.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have acquired 9,000 shares of company stock valued at $30,890. 56.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Crexendo

A number of hedge funds and other institutional investors have recently bought and sold shares of CXDO. AJOVista LLC bought a new position in Crexendo in the fourth quarter valued at approximately $47,000. Hillsdale Investment Management Inc. acquired a new stake in Crexendo in the fourth quarter worth $108,000. Simplicity Wealth LLC acquired a new stake in Crexendo in the first quarter worth $53,000. SG Americas Securities LLC acquired a new stake in Crexendo in the first quarter worth $55,000. Finally, Vanguard Group Inc. raised its holdings in Crexendo by 7.2% in the first quarter. Vanguard Group Inc. now owns 455,956 shares of the company’s stock worth $2,193,000 after purchasing an additional 30,646 shares during the period. 9.53% of the stock is 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.