Crexendo (NASDAQ:CXDO) Coverage Initiated at Craig Hallum

Craig Hallum initiated coverage on shares of Crexendo (NASDAQ:CXDO) in a report issued on Monday, MarketBeat.com reports. The brokerage set a “buy” rating and a $8.00 price target on the stock. Craig Hallum’s price objective would indicate a potential upside of 87.79% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. B. Riley restated a “buy” rating and issued a $7.50 target price (up from $6.75) on shares of Crexendo in a research note on Wednesday, March 5th. D. Boral Capital upped their target price on Crexendo from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, March 6th.

Crexendo Trading Down 3.4 %

Shares of NASDAQ:CXDO opened at $4.26 on Monday. The business’s fifty day simple moving average is $5.80 and its 200-day simple moving average is $5.47. Crexendo has a 12-month low of $2.92 and a 12-month high of $7.34. The company has a market capitalization of $118.86 million, a PE ratio of 142.05 and a beta of 1.33.

Insider Buying and Selling

In other Crexendo news, CTO David Tzat-Kin Wang sold 229,476 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $5.50, for a total transaction of $1,262,118.00. Following the completion of the transaction, the chief technology officer now directly owns 445,995 shares in the company, valued at approximately $2,452,972.50. This represents a 33.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Douglas Walter Gaylor sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $6.27, for a total transaction of $62,700.00. Following the completion of the transaction, the chief operating officer now directly owns 230,007 shares in the company, valued at $1,442,143.89. This represents a 4.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,476 shares of company stock valued at $1,384,818. Corporate insiders own 56.20% of the company’s stock.

Hedge Funds Weigh In On Crexendo

A number of institutional investors and hedge funds have recently bought and sold shares of CXDO. Dimensional Fund Advisors LP lifted its stake in Crexendo by 65.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 217,648 shares of the company’s stock worth $1,138,000 after purchasing an additional 86,162 shares in the last quarter. Integrated Quantitative Investments LLC acquired a new stake in shares of Crexendo in the fourth quarter valued at approximately $304,000. Perkins Capital Management Inc. purchased a new position in Crexendo during the fourth quarter worth approximately $262,000. ARS Investment Partners LLC acquired a new stake in Crexendo during the fourth quarter worth about $243,000. Finally, NewEdge Advisors LLC increased its holdings in shares of Crexendo by 265.3% during the 4th quarter. NewEdge Advisors LLC now owns 57,858 shares of the company’s stock worth $303,000 after buying an additional 42,020 shares during the last quarter. 9.53% of the stock is currently owned by institutional investors and hedge funds.

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.