Exela Technologies (NASDAQ:XELA) Sees Large Volume Increase

Shares of Exela Technologies, Inc. (NASDAQ:XELA) saw unusually-strong trading volume on Wednesday . Approximately 6,943,183 shares traded hands during trading, an increase of 521% from the previous session’s volume of 1,118,028 shares.The stock last traded at $0.39 and had previously closed at $0.38.

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

The company has a market cap of $65.80 million, a P/E ratio of -0.59 and a beta of 1.43. The stock’s 50-day moving average is $0.34 and its two-hundred day moving average is $1.09.

Exela Technologies (NASDAQ:XELA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.16). The company had revenue of $372.92 million for the quarter. Research analysts predict that Exela Technologies, Inc. will post -1.48 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Susquehanna International Group LLP bought a new position in Exela Technologies in the second quarter worth approximately $36,000. Virtu Financial LLC bought a new position in Exela Technologies in the third quarter worth approximately $47,000. Parametric Portfolio Associates LLC bought a new position in Exela Technologies in the second quarter worth approximately $48,000. Charles Schwab Investment Management Inc. raised its position in Exela Technologies by 17.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 267,341 shares of the company’s stock worth $586,000 after acquiring an additional 38,861 shares during the period. Finally, TimesSquare Capital Management LLC raised its position in Exela Technologies by 1.6% in the third quarter. TimesSquare Capital Management LLC now owns 2,904,994 shares of the company’s stock worth $3,428,000 after acquiring an additional 44,400 shares during the period. Institutional investors and hedge funds own 45.07% of the company’s stock.

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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