Crexendo (NASDAQ:CXDO) Earns Buy Rating from B. Riley

B. Riley reaffirmed their buy rating on shares of Crexendo (NASDAQ:CXDO) in a report published on Wednesday morning,Benzinga reports. They currently have a $7.50 target price on the stock, up from their prior target price of $6.75.

Separately, D. Boral Capital began coverage on Crexendo in a research note on Tuesday, January 21st. They set a “buy” rating and a $7.00 price objective on the stock.

Crexendo Price Performance

Shares of NASDAQ:CXDO opened at $7.16 on Wednesday. The business’s 50 day moving average price is $5.83 and its 200-day moving average price is $5.36. The firm has a market capitalization of $191.28 million, a PE ratio of 238.75 and a beta of 1.15. Crexendo has a 1 year low of $2.92 and a 1 year high of $7.34.

Insider Buying and Selling at Crexendo

In related news, CEO Jeffrey G. Korn sold 7,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $5.25, for a total value of $36,750.00. Following the sale, the chief executive officer now owns 249,730 shares in the company, valued at approximately $1,311,082.50. The trade was a 2.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO David Tzat-Kin Wang sold 12,293 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $5.15, for a total value of $63,308.95. Following the completion of the sale, the chief technology officer now owns 443,079 shares in the company, valued at $2,281,856.85. This represents a 2.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 131,960 shares of company stock worth $653,627 over the last quarter. 56.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crexendo

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in shares of Crexendo by 71.7% in the 4th quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after buying an additional 2,578 shares during the period. Creative Financial Designs Inc. ADV acquired a new position in Crexendo during the 4th quarter worth $44,000. Walleye Capital LLC acquired a new position in Crexendo during the 4th quarter worth $69,000. Schonfeld Strategic Advisors LLC acquired a new position in Crexendo during the 4th quarter worth $69,000. Finally, GSA Capital Partners LLP grew its stake in Crexendo by 41.2% during the 3rd quarter. GSA Capital Partners LLP now owns 17,598 shares of the company’s stock worth $82,000 after purchasing an additional 5,139 shares in the last quarter. Hedge funds and other institutional investors own 9.53% of the company’s stock.

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.