Crexendo (NASDAQ:CXDO) Announces Earnings Results

Crexendo (NASDAQ:CXDO) posted its quarterly earnings results on Tuesday. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01), Zacks reports. Crexendo had a return on equity of 9.09% and a net margin of 2.09%.

Crexendo Trading Down 2.4 %

NASDAQ CXDO traded down $0.14 on Tuesday, hitting $5.77. 208,158 shares of the company’s stock traded hands, compared to its average volume of 150,681. The firm’s 50-day moving average price is $5.78 and its two-hundred day moving average price is $5.34. The firm has a market capitalization of $154.15 million, a PE ratio of 192.40 and a beta of 1.11. Crexendo has a 1-year low of $2.92 and a 1-year high of $7.09.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Crexendo news, CTO David Tzat-Kin Wang sold 106,667 shares of Crexendo stock in a transaction dated 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 transaction, the chief technology officer now owns 443,079 shares in the company, valued at approximately $2,171,087.10. This trade represents a 19.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey G. Korn sold 7,000 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $5.25, for a total value of $36,750.00. Following the completion of the sale, the chief executive officer now owns 249,730 shares in the company, valued at $1,311,082.50. The trade was a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 131,960 shares of company stock valued at $653,627 over the last 90 days. Insiders own 56.20% of the company’s stock.

Institutional Investors Weigh In On Crexendo

An institutional investor recently raised its position in Crexendo stock. Bank of America Corp DE raised its position in Crexendo, Inc. (NASDAQ:CXDO) by 71.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,174 shares of the company’s stock after buying an additional 2,578 shares during the period. Bank of America Corp DE’s holdings in Crexendo were worth $32,000 at the end of the most recent quarter. 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.