Crexendo’s (CXDO) “Buy” Rating Reaffirmed at B. Riley

B. Riley reiterated their buy rating on shares of Crexendo (NASDAQ:CXDO) in a research note released on Wednesday,Benzinga reports. B. Riley currently has a $7.50 price target on the stock, up from their prior price target of $6.75.

Separately, D. Boral Capital initiated coverage on Crexendo in a research note on Tuesday, January 21st. They issued a “buy” rating and a $7.00 price objective for the company.

Crexendo Stock Performance

Crexendo stock opened at $7.16 on Wednesday. Crexendo has a one year low of $2.92 and a one year high of $7.34. The stock has a market cap of $191.28 million, a PE ratio of 238.75 and a beta of 1.15. The stock has a 50-day moving average of $5.83 and a two-hundred day moving average of $5.36.

Insider Activity at Crexendo

In related news, CEO Jeffrey G. Korn sold 7,000 shares of Crexendo stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.25, for a total transaction 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 approximately $1,311,082.50. This trade represents a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO David Tzat-Kin Wang sold 106,667 shares of Crexendo stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $4.90, for a total value of $522,668.30. Following the transaction, the chief technology officer now owns 443,079 shares of the company’s stock, valued at approximately $2,171,087.10. This represents a 19.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,960 shares of company stock worth $653,627. 56.20% of the stock is owned by corporate insiders.

Institutional Trading of Crexendo

Several institutional investors have recently bought and sold shares of the business. Barclays PLC grew its holdings in Crexendo by 8.9% in the fourth quarter. Barclays PLC now owns 25,688 shares of the company’s stock valued at $134,000 after purchasing an additional 2,105 shares during the period. Bank of America Corp DE boosted its stake in shares of Crexendo by 71.7% in the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock worth $32,000 after acquiring an additional 2,578 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Crexendo by 41.2% in the third quarter. GSA Capital Partners LLP now owns 17,598 shares of the company’s stock worth $82,000 after acquiring an additional 5,139 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Crexendo by 44.8% in the fourth quarter. Northern Trust Corp now owns 19,680 shares of the company’s stock worth $103,000 after acquiring an additional 6,085 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV acquired a new stake in shares of Crexendo in the fourth quarter worth approximately $44,000. 9.53% of the stock is owned by institutional investors and hedge funds.

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.