Exela Technologies, Inc. (NASDAQ:XELA) Short Interest Update

Exela Technologies, Inc. (NASDAQ:XELA) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totalling 890,200 shares, a growth of 7.9% from the April 15th total of 825,300 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average trading volume of 103,600 shares, the days-to-cover ratio is presently 8.6 days.

Shares of NASDAQ:XELA traded up $0.07 on Friday, hitting $2.14. The company had a trading volume of 57,256 shares, compared to its average volume of 105,733. The stock’s 50 day moving average is $2.09. Exela Technologies has a 1-year low of $1.65 and a 1-year high of $7.34. The company has a market cap of $310.80 million, a PE ratio of -2.78 and a beta of 1.35.

Exela Technologies (NASDAQ:XELA) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.03). The company had revenue of $403.77 million for the quarter. As a group, sell-side analysts forecast that Exela Technologies will post -0.35 EPS for the current fiscal year.

Several equities analysts have commented on XELA shares. Zacks Investment Research downgraded shares of Zai Lab from a “buy” rating to a “hold” rating in a report on Saturday, June 15th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Evolus in a report on Tuesday, March 19th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Exela Technologies currently has a consensus rating of “Buy” and a consensus price target of $9.33.

In related news, CFO James Reynolds acquired 247,630 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were purchased at an average cost of $1.65 per share, for a total transaction of $408,589.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ex-Sigma 2 Llc sold 13,234,848 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $1.65, for a total transaction of $21,837,499.20. The disclosure for this sale can be found here. Corporate insiders own 53.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new position in shares of Exela Technologies in the fourth quarter valued at about $59,000. Bank of America Corp DE grew its stake in shares of Exela Technologies by 133.6% in the fourth quarter. Bank of America Corp DE now owns 26,515 shares of the company’s stock valued at $103,000 after acquiring an additional 15,165 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Exela Technologies by 50.4% in the fourth quarter. Rhumbline Advisers now owns 60,173 shares of the company’s stock valued at $234,000 after acquiring an additional 20,165 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Exela Technologies in the first quarter valued at about $72,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Exela Technologies by 22.8% in the third quarter. Bank of New York Mellon Corp now owns 152,298 shares of the company’s stock valued at $1,086,000 after acquiring an additional 28,247 shares in the last quarter. Institutional investors and hedge funds own 43.72% of the company’s stock.

Exela Technologies Company Profile

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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