Crexendo (NASDAQ:CXDO) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Crexendo (NASDAQ:CXDO) issued its quarterly earnings data on Tuesday. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01), Zacks reports. Crexendo had a net margin of 2.09% and a return on equity of 9.09%.

Crexendo Price Performance

NASDAQ:CXDO traded down $0.14 during mid-day trading on Tuesday, hitting $5.77. 199,316 shares of the company’s stock were exchanged, compared to its average volume of 150,669. The company has a market cap of $154.15 million, a PE ratio of 192.40 and a beta of 1.11. Crexendo has a one year low of $2.92 and a one year high of $7.09. The business has a fifty day moving average price of $5.78 and a 200 day moving average price of $5.34.

Insider Activity

In other Crexendo news, CTO David Tzat-Kin Wang sold 106,667 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $4.90, for a total value of $522,668.30. Following the completion of the transaction, the chief technology officer now directly owns 443,079 shares in the company, valued at approximately $2,171,087.10. The trade was a 19.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey G. Korn sold 7,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $5.25, for a total transaction of $36,750.00. Following the completion of the sale, the chief executive officer now owns 249,730 shares in the company, valued at $1,311,082.50. This represents a 2.73 % 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. Insiders own 56.20% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Crexendo stock. Bank of America Corp DE grew its position in Crexendo, Inc. (NASDAQ:CXDO) by 71.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,174 shares of the company’s stock after purchasing an additional 2,578 shares during the quarter. Bank of America Corp DE’s holdings in Crexendo were worth $32,000 at the end of the most recent reporting period. Institutional investors own 9.53% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.