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

Crexendo (NASDAQ:CXDO)‘s stock had its “buy” rating reiterated by analysts at B. Riley in a note issued to investors on Wednesday,Benzinga reports. They presently have a $7.50 price objective on the stock, up from their previous price objective of $6.75. B. Riley’s price target suggests a potential upside of 4.18% from the company’s previous close.

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

Crexendo Price Performance

Shares of CXDO traded up $1.43 during midday trading on Wednesday, reaching $7.20. 442,458 shares of the stock were exchanged, compared to its average volume of 151,860. The company has a market capitalization of $192.32 million, a price-to-earnings ratio of 239.88 and a beta of 1.11. Crexendo has a twelve month low of $2.92 and a twelve month high of $7.30. The business’s 50-day moving average price is $5.79 and its 200 day moving average price is $5.35.

Insider Buying and Selling at Crexendo

In other news, CEO Jeffrey G. Korn sold 7,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 249,730 shares of the company’s stock, valued at $1,311,082.50. This trade represents a 2.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO David Tzat-Kin Wang sold 106,667 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $4.90, for a total value of $522,668.30. Following the completion of the transaction, the chief technology officer now owns 443,079 shares of the company’s stock, valued at $2,171,087.10. The trade was a 19.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 131,960 shares of company stock worth $653,627. 56.20% of the stock is currently owned by insiders.

Institutional Trading of Crexendo

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Sigma Investments LP increased its holdings in Crexendo by 36.9% in the fourth quarter. Two Sigma Investments LP now owns 124,638 shares of the company’s stock valued at $652,000 after buying an additional 33,602 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Crexendo in the 4th quarter worth approximately $206,000. Bank of America Corp DE increased its stake in 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 purchasing an additional 2,578 shares in the last quarter. Jane Street Group LLC raised its holdings in Crexendo by 93.1% during the fourth quarter. Jane Street Group LLC now owns 23,075 shares of the company’s stock worth $121,000 after purchasing an additional 11,128 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Crexendo during the fourth quarter worth $69,000. Institutional investors and hedge funds own 9.53% of the company’s stock.

Crexendo Company Profile

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.