Crexendo, Inc. (NASDAQ:CXDO) Short Interest Down 19.6% in November

Crexendo, Inc. (NASDAQ:CXDO) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 172,200 shares, a decrease of 19.6% from the November 15th total of 214,200 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average trading volume of 139,400 shares, the days-to-cover ratio is currently 1.2 days.

Crexendo Stock Performance

Shares of NASDAQ CXDO traded up $0.12 during trading on Friday, hitting $5.17. The company had a trading volume of 165,363 shares, compared to its average volume of 172,128. The stock has a 50 day simple moving average of $5.37 and a 200 day simple moving average of $4.51. The firm has a market capitalization of $138.12 million, a P/E ratio of 172.33 and a beta of 1.10. Crexendo has a 12 month low of $2.92 and a 12 month high of $7.59.

Insider Activity at Crexendo

In related news, COO Douglas Walter Gaylor sold 30,000 shares of Crexendo 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 completion of the sale, the chief operating officer now owns 219,083 shares of the company’s stock, valued at $1,314,498. The trade was a 12.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO David Tzat-Kin Wang sold 6,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $5.15, for a total transaction of $30,900.00. Following the sale, the chief technology officer now directly owns 443,079 shares of the company’s stock, valued at $2,281,856.85. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,000 shares of company stock valued at $247,650. 56.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Crexendo

Large investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP lifted its stake in Crexendo by 41.2% in 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. Advisor Resource Council purchased a new position in Crexendo during the 3rd quarter valued at approximately $93,000. Barclays PLC bought a new stake in Crexendo in the 3rd quarter worth approximately $109,000. Bailard Inc. purchased a new stake in shares of Crexendo during the 2nd quarter worth approximately $113,000. Finally, Dimensional Fund Advisors LP lifted its position in Crexendo by 476.4% during the second 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. 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.