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

Crexendo, Inc. (NASDAQ:CXDO) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 214,200 shares, an increase of 10.0% from the October 31st total of 194,800 shares. Approximately 1.8% of the shares of the company are short sold. Based on an average trading volume of 139,200 shares, the days-to-cover ratio is presently 1.5 days.

Wall Street Analyst Weigh In

Separately, B. Riley upped their target price on shares of Crexendo from $5.75 to $6.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th.

Crexendo Stock Performance

Shares of Crexendo stock traded up $0.03 during trading on Monday, reaching $5.41. The company’s stock had a trading volume of 156,498 shares, compared to its average volume of 172,860. The firm has a market cap of $144.53 million, a price-to-earnings ratio of 180.33 and a beta of 1.15. Crexendo has a one year low of $2.92 and a one year high of $7.59. The business’s fifty day moving average price is $5.23 and its 200-day moving average price is $4.41.

Insider Buying and Selling at Crexendo

In related news, COO Douglas Walter Gaylor sold 30,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $6.00, for a total value of $180,000.00. Following the transaction, the chief operating officer now owns 219,083 shares of the company’s stock, valued at $1,314,498. This represents a 12.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 56.20% of the company’s stock.

Hedge Funds Weigh In On Crexendo

Hedge funds have recently made changes to their positions in the stock. Essex Investment Management Co. LLC lifted its stake in Crexendo by 1,473.9% during the third quarter. Essex Investment Management Co. LLC now owns 828,759 shares of the company’s stock worth $3,845,000 after purchasing an additional 776,102 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Crexendo by 229.9% in the second quarter. Renaissance Technologies LLC now owns 364,565 shares of the company’s stock worth $1,147,000 after acquiring an additional 254,065 shares in the last quarter. Creative Planning grew its position in Crexendo by 165.4% during the 2nd quarter. Creative Planning now owns 1,408,151 shares of the company’s stock valued at $4,429,000 after purchasing an additional 877,554 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Crexendo by 7.2% during the first quarter. Vanguard Group Inc. now owns 455,956 shares of the company’s stock valued at $2,193,000 after purchasing an additional 30,646 shares in the last quarter. Finally, Bailard Inc. purchased a new stake in shares of Crexendo during the 2nd quarter valued at about $113,000. 9.53% of the stock is currently owned by institutional investors.

About Crexendo

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.