D. Boral Capital Initiates Coverage on Crexendo (NASDAQ:CXDO)

Research analysts at D. Boral Capital began coverage on shares of Crexendo (NASDAQ:CXDO) in a report released on Tuesday,Benzinga reports. The firm set a “buy” rating and a $7.00 price target on the stock. D. Boral Capital’s target price would indicate a potential upside of 30.84% from the stock’s current price.

Crexendo Stock Performance

Shares of CXDO stock opened at $5.35 on Tuesday. The firm has a market cap of $142.95 million, a P/E ratio of 178.39 and a beta of 1.10. The business’s 50 day moving average price is $5.26 and its 200-day moving average price is $4.91. Crexendo has a fifty-two week low of $2.92 and a fifty-two week high of $7.59.

Insider Activity at Crexendo

In related news, 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 $1,311,082.50. The trade was a 2.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David Tzat-Kin Wang sold 106,667 shares of the business’s 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. This represents a 19.40 % 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 in the last three months. Company insiders own 56.20% of the company’s stock.

Institutional Investors Weigh In On Crexendo

A number of large investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP boosted its stake in shares of 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 buying an additional 5,139 shares during the last quarter. Advisor Resource Council bought a new position in Crexendo in the third quarter valued at about $93,000. Geode Capital Management LLC boosted its position in Crexendo by 18.4% in the third quarter. Geode Capital Management LLC now owns 140,193 shares of the company’s stock worth $651,000 after purchasing an additional 21,739 shares during the last quarter. Barclays PLC bought a new stake in shares of Crexendo during the 3rd quarter valued at about $109,000. Finally, ARS Investment Partners LLC purchased a new stake in shares of Crexendo during the 4th quarter valued at about $243,000. 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.