Exela Technologies (NASDAQ:XELA) Sees Strong Trading Volume

Exela Technologies, Inc. (NASDAQ:XELA) shares saw strong trading volume on Friday . 16,715,259 shares were traded during mid-day trading, an increase of 6,871% from the previous session’s volume of 239,799 shares.The stock last traded at $1.38 and had previously closed at $1.10.

Several equities analysts have recently commented on the company. Nomura decreased their price target on Exela Technologies from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. ValuEngine raised Exela Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Zacks Investment Research lowered Exela Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, September 14th. Finally, Royal Bank of Canada set a $4.00 price target on Exela Technologies and gave the company a “buy” rating 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 stock. The stock has an average rating of “Buy” and an average target price of $5.85.

The stock has a market cap of $172.51 million, a PE ratio of -1.79 and a beta of 1.68. The company has a fifty day moving average of $1.23 and a 200-day moving average of $2.34.

Exela Technologies (NASDAQ:XELA) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.17). The company had revenue of $390.16 million during the quarter. On average, equities research analysts expect that Exela Technologies, Inc. will post -0.51 EPS for the current year.

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Exela Technologies by 2.2% in the 2nd quarter. BlackRock Inc. now owns 2,478,563 shares of the company’s stock valued at $5,429,000 after buying an additional 53,628 shares during the period. Vanguard Group Inc. raised its holdings in shares of Exela Technologies by 11.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,820,884 shares of the company’s stock valued at $3,988,000 after buying an additional 186,477 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Exela Technologies by 17.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 267,341 shares of the company’s stock valued at $586,000 after buying an additional 38,861 shares during the period. SG Americas Securities LLC raised its holdings in shares of Exela Technologies by 25.8% in the 2nd quarter. SG Americas Securities LLC now owns 27,180 shares of the company’s stock valued at $60,000 after buying an additional 5,570 shares during the period. Finally, Parametric Portfolio Associates LLC purchased a new stake in shares of Exela Technologies in the 2nd quarter valued at $48,000. Hedge funds and other institutional investors own 45.78% of the company’s stock.

Exela Technologies Company Profile (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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