Exela Technologies (NASDAQ:XELA) Shares Down 9.4%

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Exela Technologies, Inc. (NASDAQ:XELA) traded down 9.4% on Monday . The company traded as low as $0.28 and last traded at $0.29, 711,496 shares traded hands during mid-day trading. An increase of 125% from the average session volume of 316,654 shares. The stock had previously closed at $0.32.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research cut Exela Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Royal Bank of Canada set a $4.00 price objective on Exela Technologies and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Nomura dropped their price objective on Exela Technologies from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $5.06.

The stock has a 50 day moving average price of $0.63 and a two-hundred day moving average price of $1.57. The firm has a market capitalization of $48.81 million, a price-to-earnings ratio of -0.38 and a beta of 1.34.

Exela Technologies (NASDAQ:XELA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.16). The firm had revenue of $372.92 million during the quarter. As a group, sell-side analysts expect that Exela Technologies, Inc. will post -1.48 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of Exela Technologies in the third quarter valued at $47,000. TimesSquare Capital Management LLC boosted its holdings in Exela Technologies by 1.6% in the third quarter. TimesSquare Capital Management LLC now owns 2,904,994 shares of the company’s stock valued at $3,428,000 after purchasing an additional 44,400 shares during the period. Susquehanna International Group LLP purchased a new position in Exela Technologies in the second quarter valued at $36,000. Vanguard Group Inc. boosted its holdings in Exela Technologies by 11.4% in the second quarter. Vanguard Group Inc. now owns 1,820,884 shares of the company’s stock valued at $3,988,000 after purchasing an additional 186,477 shares during the period. Finally, BlackRock Inc. boosted its holdings in Exela Technologies by 2.2% in the second quarter. BlackRock Inc. now owns 2,478,563 shares of the company’s stock valued at $5,429,000 after purchasing an additional 53,628 shares during the period. 45.04% of the stock is owned by institutional investors and hedge funds.

About Exela Technologies (NASDAQ:XELA)

Exela Technologies, Inc (Exela), formerly Quinpario Acquisition Corp. 2, is engaged in providing information and transaction processing solutions. The Company’s segments include Information and Transaction Processing Solutions (ITPS), Healthcare Solutions (HS) and Legal & Loss Prevention Services (LLPS).

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