Crexendo (NASDAQ:CXDO – Free Report) The price target was raised by B. Riley from $5.75 to $6.00 in a research note issued to investors on Wednesday, Benzinga reports. B. Riley currently has a buy rating on the stock.
Crexendo trading up 0.2%
CXDO rose $0.01 on Wednesday, reaching $4.36. The trading volume of the company’s shares was 199,465 shares, compared to its average volume of 182,950. The stock has a market cap of $116.42 million, a P/E ratio of 87.20 and a beta of 1.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.01 and a quick ratio of 1.97. The company’s 50-day moving average price is $3.53 and its 200-day moving average price is $4.48. Crexendo has a twelve-month low of $1.54 and a twelve-month high of $7.59.
Insiders place their bets
In related news, insider Anand Buch sold 11,950 shares of the company’s stock on Friday, June 14. The shares were sold at an average price of $3.04, for a total transaction of $36,328.00. Following the completion of the transaction, the insider now owns 548,139 shares of the company’s stock, valued at $1,666,342.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Insiders have purchased 6,000 shares of the company’s stock, valued at $19,280, over the past ninety days. Insiders own 56.20% of the company’s stock.
Institutional investors comment on Crexendo
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in Crexendo by 229.9% during the 2nd quarter. Renaissance Technologies LLC now owns 364,565 shares of the company’s stock valued at $1,147,000 after acquiring an additional 254,065 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Crexendo in the first quarter valued at about $605,000. Dimensional Fund Advisors LP increased its stake in shares of 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 acquiring an additional 83,702 shares in the last quarter. Bailard Inc. acquired a new stake in Crexendo shares during the 2nd quarter valued at about $113,000. Finally, Vanguard Group Inc. increased its position in Crexendo by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 455,956 shares of the company’s stock valued at $2,193,000 after acquiring an additional 30,646 shares in the last quarter. 9.53% of the shares are owned by hedge funds and other institutional investors.
About Crexendo
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Crexendo, Inc. provides cloud communications platforms and services, video collaboration, and managed IT services to enterprises in the United States and internationally. The company operates in two segments: Cloud Telecommunications Services and Software Solutions. The Cloud Telecommunications segment provides telecommunications services that transmit calls over Internet Protocol (IP) or cloud technology that converts voice signals into digital data packets for transmission over the Internet or cloud; and broadband Internet services; and it develops end-user portals for account and license management, as well as billing and customer support.
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