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 volume of 328,646 shares, the days-to-cover ratio is currently 6.6 days.

Shares of Exela Technologies stock opened at $6.00 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of -21.04. Exela Technologies has a twelve month low of $4.15 and a twelve month high of $7.34. The firm has a market capitalization of $1.08 billion, a P/E ratio of -3.61 and a beta of 0.91.

Exela Technologies (NASDAQ:XELA) last issued its quarterly earnings results on Thursday, August 9th. The company reported ($0.17) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.12). The firm had revenue of $410.38 million for the quarter. Exela Technologies had a negative net margin of 14.28% and a negative return on equity of 31,672.80%. As a group, sell-side analysts predict that Exela Technologies will post -0.39 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Verition Fund Management LLC bought a new stake in Exela Technologies during the first quarter valued at $114,000. California Public Employees Retirement System bought a new stake in Exela Technologies during the second quarter valued at $103,000. Rhumbline Advisers bought a new stake in Exela Technologies during the second quarter valued at $190,000. Schwab Charles Investment Management Inc. bought a new stake in Exela Technologies during the second quarter valued at $422,000. Finally, Citadel Advisors LLC bought a new stake in Exela Technologies during the second quarter valued at $538,000. 43.96% of the stock is currently owned by institutional investors and hedge funds.

XELA has been the topic of several analyst reports. Zacks Investment Research cut shares of Exela Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Cantor Fitzgerald reissued a “buy” rating and issued a $9.00 price objective on shares of Exela Technologies in a research note on Sunday, June 24th. Finally, Nomura initiated coverage on shares of Exela Technologies in a research note on Monday, July 30th. They issued a “buy” rating and a $10.00 price objective on the stock.

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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