Exela Technologies (NASDAQ:XELA) Shares Down 17.2%

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Exela Technologies, Inc. (NASDAQ:XELA) fell 17.2% on Thursday . The stock traded as low as $0.54 and last traded at $0.46, 425,795 shares traded hands during mid-day trading. A decline of 92% from the average session volume of 5,010,089 shares. The stock had previously closed at $0.56.

Several brokerages have recently weighed in on XELA. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Exela Technologies in a research report on Monday. Zacks Investment Research reiterated a “hold” rating on shares of Exela Technologies in a research note on Saturday, May 30th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $3.75.

The company has a 50 day simple moving average of $0.31 and a 200-day simple moving average of $0.30. The stock has a market cap of $60.25 million, a price-to-earnings ratio of -0.30 and a beta of 2.31.

Exela Technologies (NASDAQ:XELA) last announced its quarterly earnings data on Tuesday, June 9th. The company reported ($2.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($2.04). The business had revenue of $393.59 million during the quarter. As a group, equities research analysts predict that Exela Technologies, Inc. will post -0.31 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Citigroup Inc. raised its position in shares of Exela Technologies by 6,449.7% during the 4th quarter. Citigroup Inc. now owns 423,833 shares of the company’s stock worth $173,000 after purchasing an additional 417,362 shares during the period. Geode Capital Management LLC raised its position in shares of Exela Technologies by 10.5% during the 4th quarter. Geode Capital Management LLC now owns 720,658 shares of the company’s stock worth $293,000 after purchasing an additional 68,521 shares during the period. Wells Fargo & Company MN raised its position in shares of Exela Technologies by 541.9% during the 1st quarter. Wells Fargo & Company MN now owns 140,389 shares of the company’s stock worth $29,000 after purchasing an additional 118,517 shares during the period. Invesco Ltd. acquired a new stake in shares of Exela Technologies during the 1st quarter worth approximately $104,000. Finally, State Street Corp grew its holdings in Exela Technologies by 14.9% in the 1st quarter. State Street Corp now owns 934,903 shares of the company’s stock worth $192,000 after buying an additional 121,020 shares in the last quarter. Institutional investors and hedge funds own 32.88% 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).

Read More: Outstanding Shares and The Effect on Share Price

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