Exela Technologies (NASDAQ:XELA) Shares Up 9%

Exela Technologies, Inc. (NASDAQ:XELA) shot up 9% on Wednesday . The stock traded as high as $0.34 and last traded at $0.34, 716,598 shares were traded during mid-day trading. A decline of 12% from the average session volume of 812,802 shares. The stock had previously closed at $0.31.

Separately, Zacks Investment Research reaffirmed a “sell” rating on shares of Exela Technologies in a report on Saturday, January 11th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $5.06.

The stock has a market capitalization of $45.86 million, a price-to-earnings ratio of -0.16 and a beta of 1.44. The company has a fifty day simple moving average of $0.38 and a two-hundred day simple moving average of $0.83.

Exela Technologies (NASDAQ:XELA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.16). The business had revenue of $372.92 million during the quarter. On average, equities research analysts anticipate that Exela Technologies, Inc. will post -1.48 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in XELA. Parametric Portfolio Associates LLC bought a new stake in shares of Exela Technologies in the 2nd quarter valued at about $48,000. BlackRock Inc. grew its position 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 last quarter. Vanguard Group Inc. grew its position 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 last quarter. TimesSquare Capital Management LLC grew its position in shares of Exela Technologies by 1.6% in the 3rd quarter. TimesSquare Capital Management LLC now owns 2,904,994 shares of the company’s stock valued at $3,428,000 after buying an additional 44,400 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Exela Technologies in the 3rd quarter valued at about $47,000. 45.07% 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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