Exela Technologies, Inc. (NASDAQ:XELA) Receives Average Recommendation of “Strong Buy” from Brokerages
Shares of Exela Technologies, Inc. (NASDAQ:XELA) have been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating. Exela Technologies’ rating score has improved by 40.1% in the last 90 days as a result of various analysts’ ratings changes.
Analysts have set a 12-month consensus price target of $7.00 for the company, according to Zacks. Zacks has also given Exela Technologies an industry rank of 155 out of 256 based on the ratings given to related companies.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Exela Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. ValuEngine upgraded shares of Exela Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Nomura dropped their target price on shares of Exela Technologies from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Royal Bank of Canada set a $4.00 price objective on shares of Exela Technologies and gave the stock a “buy” rating in a report on Friday, August 9th.
Exela Technologies (NASDAQ:XELA) last announced its earnings results on Thursday, August 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.17). The company had revenue of $390.16 million for the quarter. Equities research analysts expect that Exela Technologies will post -0.35 EPS for the current fiscal year.
In other Exela Technologies news, Director Ex-Sigma 2 Llc sold 13,234,848 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $1.65, for a total transaction of $21,837,499.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO James Reynolds acquired 247,630 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were bought at an average cost of $1.65 per share, for a total transaction of $408,589.50. The disclosure for this purchase can be found here. 53.10% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Parametric Portfolio Associates LLC bought a new position in shares of Exela Technologies in the 2nd quarter valued at about $48,000. SG Americas Securities LLC boosted its stake in shares of Exela Technologies by 25.8% in the 2nd quarter. SG Americas Securities LLC now owns 27,180 shares of the company’s stock valued at $60,000 after purchasing an additional 5,570 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Exela Technologies by 133.6% in the 4th quarter. Bank of America Corp DE now owns 26,515 shares of the company’s stock valued at $103,000 after purchasing an additional 15,165 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Exela Technologies by 27.1% in the 4th quarter. Bank of New York Mellon Corp now owns 193,514 shares of the company’s stock valued at $753,000 after purchasing an additional 41,216 shares during the last quarter. 43.69% of the stock is currently owned by hedge funds and other institutional investors.
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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