Exela Technologies, Inc. (NASDAQ:XELA) saw a significant increase in short interest during the month of September. As of September 28th, there was short interest totalling 2,174,626 shares, an increase of 41.2% from the September 14th total of 1,540,278 shares. Based on an average daily trading volume, of 328,646 shares, the days-to-cover ratio is currently 6.6 days.
A number of analysts recently issued reports on XELA shares. Cantor Fitzgerald restated a “buy” rating and issued a $9.00 price target on shares of Exela Technologies in a research report on Sunday, June 24th. Zacks Investment Research upgraded Exela Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, September 27th. Finally, Nomura restated a “buy” rating and issued a $10.00 price target on shares of Exela Technologies in a research report on Sunday, August 12th.
Several large investors have recently added to or reduced their stakes in XELA. Verition Fund Management LLC bought a new stake in shares of Exela Technologies during the first quarter worth $114,000. Millennium Management LLC lifted its position in shares of Exela Technologies by 425.1% during the first quarter. Millennium Management LLC now owns 361,997 shares of the company’s stock worth $2,002,000 after purchasing an additional 293,053 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Exela Technologies during the second quarter worth $190,000. Bank of New York Mellon Corp bought a new stake in shares of Exela Technologies during the second quarter worth $589,000. Finally, Serengeti Asset Management LP lifted its position in shares of Exela Technologies by 92.4% during the second quarter. Serengeti Asset Management LP now owns 433,000 shares of the company’s stock worth $2,057,000 after purchasing an additional 208,000 shares during the last quarter. Institutional investors and hedge funds own 43.96% of the company’s stock.
Shares of XELA opened at $6.00 on Friday. The firm has a market capitalization of $1.08 billion, a P/E ratio of -3.72 and a beta of 0.91. Exela Technologies has a 52-week low of $4.15 and a 52-week high of $7.34. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of -21.04.
Exela Technologies (NASDAQ:XELA) last issued its quarterly earnings results on Thursday, August 9th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.12). The company had revenue of $410.38 million during the quarter. Exela Technologies had a negative return on equity of 31,672.80% and a negative net margin of 14.28%. On average, sell-side analysts anticipate that Exela Technologies will post -0.39 earnings per share for the current fiscal year.
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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