Crexendo (NASDAQ:CXDO) Given “Buy” Rating at D. Boral Capital

Crexendo (NASDAQ:CXDO)‘s stock had its “buy” rating restated by equities research analysts at D. Boral Capital in a research note issued on Wednesday,Benzinga reports. They presently have a $10.00 price objective on the stock. D. Boral Capital’s price objective indicates a potential upside of 86.92% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. B. Riley reiterated a “buy” rating and issued a $7.50 price objective (up from $6.75) on shares of Crexendo in a report on Wednesday, March 5th. Craig Hallum initiated coverage on Crexendo in a research note on Monday, April 7th. They issued a “buy” rating and a $8.00 price target on the stock.

Crexendo Price Performance

Shares of CXDO stock opened at $5.35 on Wednesday. The company has a market capitalization of $149.27 million, a PE ratio of 178.39 and a beta of 1.09. The firm’s 50-day moving average is $5.20 and its two-hundred day moving average is $5.44. Crexendo has a 12 month low of $2.92 and a 12 month high of $7.34.

Insider Activity

In other news, CEO Jeffrey G. Korn sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.00, for a total transaction of $60,000.00. Following the sale, the chief executive officer now owns 243,384 shares of the company’s stock, valued at approximately $1,460,304. This trade represents a 3.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO David Tzat-Kin Wang sold 229,476 shares of Crexendo stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $5.50, for a total transaction of $1,262,118.00. Following the sale, the chief technology officer now owns 445,995 shares in the company, valued at $2,452,972.50. This represents a 33.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 249,476 shares of company stock worth $1,384,818. 56.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Detalus Advisors LLC purchased a new stake in shares of Crexendo during the first quarter worth approximately $49,000. Two Sigma Investments LP increased its stake in Crexendo by 36.9% in the 4th 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 during the period. OMERS ADMINISTRATION Corp purchased a new position in Crexendo during the 4th quarter worth $206,000. Bank of America Corp DE lifted its stake in shares of Crexendo by 71.7% in the 4th 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 period. Finally, Jane Street Group LLC lifted its stake in shares of Crexendo by 93.1% in the 4th quarter. Jane Street Group LLC now owns 23,075 shares of the company’s stock worth $121,000 after acquiring an additional 11,128 shares during the period. 9.53% of the stock is currently owned by hedge funds and other institutional investors.

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.