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

Crexendo, Inc. (NASDAQ:CXDO) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 245,900 shares, an increase of 42.8% from the November 30th total of 172,200 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average trading volume of 155,600 shares, the short-interest ratio is presently 1.6 days.

Insider Transactions at Crexendo

In other Crexendo news, CTO David Tzat-Kin Wang sold 106,667 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $4.90, for a total transaction of $522,668.30. Following the completion of the sale, the chief technology officer now directly owns 443,079 shares of the company’s stock, valued at approximately $2,171,087.10. This trade represents a 19.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey G. Korn sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $5.25, for a total value of $36,750.00. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 161,960 shares of company stock worth $833,627. Insiders own 56.20% of the company’s stock.

Institutional Trading of Crexendo

Several hedge funds have recently modified their holdings of the business. Creative Planning boosted its stake in shares of Crexendo by 165.4% during the 2nd quarter. Creative Planning now owns 1,408,151 shares of the company’s stock worth $4,429,000 after acquiring an additional 877,554 shares in the last quarter. Essex Investment Management Co. LLC raised its holdings 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 position in Crexendo by 229.9% during the second quarter. Renaissance Technologies LLC now owns 364,565 shares of the company’s stock worth $1,147,000 after purchasing an additional 254,065 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Crexendo by 73.1% in the second quarter. Acadian Asset Management LLC now owns 218,345 shares of the company’s stock valued at $685,000 after purchasing an additional 92,196 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Crexendo by 476.4% in the second quarter. Dimensional Fund Advisors LP now owns 101,273 shares of the company’s stock valued at $319,000 after buying an additional 83,702 shares in the last quarter. 9.53% of the stock is owned by institutional investors and hedge funds.

Crexendo Trading Down 1.9 %

Shares of Crexendo stock traded down $0.10 on Monday, reaching $5.24. 140,753 shares of the stock were exchanged, compared to its average volume of 171,921. The firm has a market capitalization of $139.99 million, a PE ratio of 174.72 and a beta of 1.10. Crexendo has a 1-year low of $2.92 and a 1-year high of $7.59. The business has a fifty day moving average price of $5.35 and a two-hundred day moving average price of $4.66.

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.