Steven G. Mihaylo Buys 3,000 Shares of Crexendo, Inc. (NASDAQ:CXDO) Stock

Crexendo, Inc. (NASDAQ:CXDO) CEO Steven G. Mihaylo purchased 3,000 shares of the company’s stock in a transaction on Wednesday, January 12th. The shares were purchased at an average price of $4.55 per share, for a total transaction of $13,650.00. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of CXDO stock opened at $4.45 on Friday. The stock has a market cap of $82.06 million, a PE ratio of 16.48, a price-to-earnings-growth ratio of 4.78 and a beta of 1.40. Crexendo, Inc. has a 52-week low of $4.29 and a 52-week high of $8.08. The company has a quick ratio of 1.30, a current ratio of 1.36 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $5.00 and a 200-day simple moving average of $5.63.

Crexendo (NASDAQ:CXDO) last released its quarterly earnings results on Tuesday, November 9th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $8.81 million during the quarter, compared to analysts’ expectations of $7.77 million. Crexendo had a return on equity of 15.58% and a net margin of 22.71%. Sell-side analysts anticipate that Crexendo, Inc. will post 0.08 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in Crexendo by 49.7% in the 3rd quarter. Geode Capital Management LLC now owns 26,602 shares of the company’s stock worth $158,000 after purchasing an additional 8,836 shares during the period. Royal Bank of Canada acquired a new position in Crexendo in the 2nd quarter worth about $105,000. Millennium Management LLC acquired a new position in Crexendo in the 3rd quarter worth about $69,000. Essex Investment Management Co. LLC raised its holdings in Crexendo by 24.5% in the 3rd quarter. Essex Investment Management Co. LLC now owns 101,920 shares of the company’s stock worth $611,000 after purchasing an additional 20,061 shares during the period. Finally, Stanley Laman Group Ltd. raised its holdings in Crexendo by 10.3% in the 3rd quarter. Stanley Laman Group Ltd. now owns 239,011 shares of the company’s stock worth $1,432,000 after purchasing an additional 22,337 shares during the period. 6.95% of the stock is owned by institutional investors.

CXDO has been the subject of several analyst reports. Lake Street Capital initiated coverage on Crexendo in a report on Monday, November 22nd. They issued a “buy” rating and a $9.00 price objective for the company. Colliers Securities reissued a “buy” rating and issued a $10.00 price objective on shares of Crexendo in a report on Wednesday, November 10th. Finally, Zacks Investment Research cut Crexendo from a “buy” rating to a “hold” rating in a report on Tuesday.

Crexendo Company Profile

Crexendo, Inc engages in the provision of telecommunications services, broadband Internet services, and other cloud business services. It operates through the Cloud Telecommunications Services and Web Services segments. The Cloud Telecommunications Services segment focuses on selling cloud telecommunication products and services and broadband Internet services.

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