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

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

Wall Street Analyst Weigh In

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

Insider Activity

In other Crexendo news, COO Douglas Walter Gaylor sold 30,000 shares of Crexendo stock in a transaction that occurred on Friday, October 18th. The shares were 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 approximately $1,314,498. The trade was a 12.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 56.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crexendo

A number of institutional investors and hedge funds have recently made changes to their positions in CXDO. GSA Capital Partners LLP increased its holdings in Crexendo by 41.2% during the third quarter. GSA Capital Partners LLP now owns 17,598 shares of the company’s stock worth $82,000 after buying an additional 5,139 shares during the last quarter. Advisor Resource Council bought a new position in shares of Crexendo in the 3rd quarter valued at about $93,000. Barclays PLC acquired a new position in shares of Crexendo during the 3rd quarter worth about $109,000. Bailard Inc. bought a new stake in shares of Crexendo in the 2nd quarter valued at about $113,000. Finally, Dimensional Fund Advisors LP lifted its stake in Crexendo by 476.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 101,273 shares of the company’s stock valued at $319,000 after purchasing an additional 83,702 shares during the last quarter. Institutional investors own 9.53% of the company’s stock.

Crexendo Stock Up 1.3 %

Shares of NASDAQ:CXDO traded up $0.07 during midday trading on Wednesday, reaching $5.48. The company had a trading volume of 115,803 shares, compared to its average volume of 172,615. Crexendo has a 1-year low of $2.92 and a 1-year high of $7.59. The stock has a market cap of $146.43 million, a PE ratio of 182.73 and a beta of 1.10. The business’s 50 day moving average price is $5.26 and its 200 day moving average price is $4.43.

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.