Exela Technologies (NASDAQ:XELA) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Exela Technologies (NASDAQ:XELAGet Rating) posted its earnings results on Tuesday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.07), MarketWatch Earnings reports. During the same period in the previous year, the company posted ($0.76) EPS.

NASDAQ:XELA traded down $0.03 during mid-day trading on Wednesday, hitting $0.28. 403,537 shares of the stock traded hands, compared to its average volume of 42,621,859. The business’s 50-day moving average price is $0.44 and its 200 day moving average price is $0.84. The company has a market cap of $135.87 million, a PE ratio of -0.19 and a beta of 1.76. Exela Technologies has a 12-month low of $0.28 and a 12-month high of $5.45.

XELA has been the subject of several recent analyst reports. Cantor Fitzgerald reduced their target price on shares of Exela Technologies from $4.00 to $2.00 and set an “overweight” rating for the company in a research note on Thursday, March 24th. B. Riley downgraded shares of Exela Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $3.00 to $0.55 in a report on Wednesday, March 23rd. Finally, Zacks Investment Research cut shares of Exela Technologies from a “hold” rating to a “strong sell” rating in a report on Saturday, March 26th.

A number of large investors have recently modified their holdings of XELA. Morgan Stanley purchased a new position in Exela Technologies during the second quarter valued at approximately $479,000. Bank of America Corp DE grew its stake in Exela Technologies by 28.6% during the second quarter. Bank of America Corp DE now owns 93,447 shares of the company’s stock valued at $223,000 after acquiring an additional 20,770 shares in the last quarter. Citadel Advisors LLC grew its stake in Exela Technologies by 28.3% in the 2nd quarter. Citadel Advisors LLC now owns 19,215 shares of the company’s stock worth $46,000 after buying an additional 4,244 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Exela Technologies in the 3rd quarter valued at $234,000. Finally, Millennium Management LLC purchased a new stake in shares of Exela Technologies in the 3rd quarter valued at $166,000. 7.75% of the stock is owned by institutional investors.

About Exela Technologies (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).

See Also

Earnings History for Exela Technologies (NASDAQ:XELA)

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