Crexendo (NASDAQ:CXDO) Upgraded by B. Riley to “Buy”

B. Riley upgraded shares of Crexendo (NASDAQ:CXDO) from a neutral rating to a buy rating in a report released on Wednesday morning, MarketBeat Ratings reports. They currently have $5.75 target price on the stock, down from their prior target price of $6.75.

Several other research firms have also recently weighed in on CXDO. Lake Street Capital upped their price objective on shares of Crexendo from $5.50 to $7.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. TheStreet raised shares of Crexendo from a d rating to a c rating in a report on Tuesday, March 19th.

Crexendo Stock Down 15.3 %

Shares of NASDAQ CXDO opened at $3.94 on Wednesday. Crexendo has a 52 week low of $1.24 and a 52 week high of $7.59. The stock’s fifty day moving average is $4.85 and its 200 day moving average is $4.42. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.65 and a current ratio of 1.69. The stock has a market capitalization of $101.26 million, a P/E ratio of -197.00 and a beta of 1.16.

Crexendo (NASDAQ:CXDO) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Crexendo had a negative net margin of 0.68% and a positive return on equity of 6.60%. The business had revenue of $14.16 million during the quarter, compared to analysts’ expectations of $13.76 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. Sell-side analysts forecast that Crexendo will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at Crexendo

In other news, CTO David Tzat-Kin Wang sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $5.51, for a total value of $110,200.00. Following the completion of the transaction, the chief technology officer now owns 437,402 shares of the company’s stock, valued at $2,410,085.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 56.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hillsdale Investment Management Inc. acquired a new stake in Crexendo during the 4th quarter valued at approximately $108,000. SG Americas Securities LLC acquired a new stake in Crexendo during the 1st quarter valued at approximately $55,000. Simplicity Wealth LLC acquired a new stake in Crexendo during the 1st quarter valued at approximately $53,000. Finally, AJOVista LLC acquired a new stake in Crexendo during the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds 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.