Exela Technologies, Inc. (NASDAQ:XELA) Short Interest Up 28.6% in April

Exela Technologies, Inc. (NASDAQ:XELA – Get Rating) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 27,920,000 shares, an increase of 28.6% from the March 31st total of 21,710,000 shares. Based on an average daily volume of 49,080,000 shares, the short-interest ratio is presently 0.6 days.

Shares of NASDAQ XELA opened at $0.33 on Monday. The company has a market capitalization of $146.20 million, a price-to-earnings ratio of -0.21 and a beta of 1.76. The business has a 50-day moving average of $0.48 and a two-hundred day moving average of $0.90. Exela Technologies has a 1 year low of $0.32 and a 1 year high of $5.45.

Exela Technologies (NASDAQ:XELA – Get Rating) last announced its quarterly earnings results on Friday, March 11th. The company reported ($0.34) earnings per share (EPS) for the quarter. The business had revenue of $294.30 million during the quarter, compared to the consensus estimate of $294.50 million. Equities analysts anticipate that Exela Technologies will post -0.25 earnings per share for the current year.

A number of research analysts recently issued reports on XELA shares. Cantor Fitzgerald decreased their target price on Exela Technologies from $4.00 to $2.00 and set an “overweight” rating for the company in a report on Thursday, March 24th. Zacks Investment Research lowered Exela Technologies from a “hold” rating to a “strong sell” rating in a report on Saturday, March 26th. Finally, B. Riley lowered Exela Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the company from $3.00 to $0.55 in a report on Wednesday, March 23rd.

A number of hedge funds and other institutional investors have recently made changes to their positions in XELA. Morgan Stanley purchased a new stake in Exela Technologies during the 2nd quarter worth about $479,000. Bank of America Corp DE increased its position in shares of Exela Technologies by 28.6% during the second quarter. Bank of America Corp DE now owns 93,447 shares of the company’s stock worth $223,000 after purchasing an additional 20,770 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Exela Technologies by 28.3% during the second quarter. Citadel Advisors LLC now owns 19,215 shares of the company’s stock worth $46,000 after purchasing an additional 4,244 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Exela Technologies during the third quarter worth about $30,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Exela Technologies during the third quarter worth about $180,000. 9.99% of the stock is owned by institutional investors.

Exela Technologies Company Profile (Get Rating)

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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