Exela Technologies, Inc. (NASDAQ:XELA) shares rose 7.1% during mid-day trading on Friday . The stock traded as high as $0.31 and last traded at $0.30, approximately 636,827 shares traded hands during trading. An increase of 99% from the average daily volume of 320,357 shares. The stock had previously closed at $0.28.
Separately, Zacks Investment Research lowered shares of Exela Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. 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. The company currently has a consensus rating of “Buy” and a consensus target price of $5.06.
The company’s 50 day simple moving average is $0.53 and its 200 day simple moving average is $1.47.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in XELA. SG Americas Securities LLC increased its holdings in Exela Technologies by 25.8% during the 2nd quarter. SG Americas Securities LLC now owns 27,180 shares of the company’s stock worth $60,000 after purchasing an additional 5,570 shares during the period. Charles Schwab Investment Management Inc. raised its position in 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 purchasing an additional 38,861 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new position in shares of Exela Technologies in the 2nd quarter valued at about $48,000. BlackRock Inc. boosted its stake 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. Finally, Vanguard Group Inc. boosted its stake 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. 45.04% of the stock is owned by hedge funds and other institutional investors.
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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