Exela Technologies (XELA) Hits New 12-Month Low at $3.94
Exela Technologies, Inc. (NASDAQ:XELA) hit a new 52-week low on Friday . The stock traded as low as $3.94 and last traded at $4.01, with a volume of 765 shares traded. The stock had previously closed at $4.33.
A number of research analysts have recently commented on the company. Nomura reaffirmed a “buy” rating and set a $10.00 target price on shares of Exela Technologies in a research note on Sunday, August 12th. Zacks Investment Research cut Exela Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 21st. Finally, Morgan Stanley assumed coverage on Exela Technologies in a research note on Monday, October 22nd. They set an “overweight” rating and a $9.00 target price on the stock.
The company has a market cap of $659.67 million, a P/E ratio of -2.46 and a beta of 1.08.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of Exela Technologies during the third quarter valued at approximately $104,000. California Public Employees Retirement System bought a new position in shares of Exela Technologies during the second quarter valued at approximately $103,000. Jane Street Group LLC bought a new position in Exela Technologies in the third quarter worth approximately $187,000. Neuberger Berman Group LLC bought a new position in Exela Technologies in the third quarter worth approximately $211,000. Finally, Point72 Asset Management L.P. grew its stake in Exela Technologies by 70.0% in the third quarter. Point72 Asset Management L.P. now owns 34,000 shares of the company’s stock worth $242,000 after purchasing an additional 14,000 shares in the last quarter. 44.54% of the stock is currently owned by hedge funds and other institutional investors.
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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).
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