Exela Technologies (NASDAQ:XELA) Upgraded at Zacks Investment Research

Exela Technologies (NASDAQ:XELA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Exela Technologies, Inc. is engaged in providing information and transaction processing solutions. The Company’s segments include Information and Transaction Processing Solutions, Healthcare Solutions and Legal & Loss Prevention Services. ITPS provides industry solutions for banking and financial services, including lending solutions for mortgages, banking solutions for clearing, anti-money laundering, sanctions, cross-border settlement; property and casualty insurance solutions for enrollments, and communications. The HS segment offerings include integrated accounts payable and accounts receivable, and information management for both the healthcare payer and provider markets. The LLPS segment solutions include processing of legal claims for class action and mass action settlement administrations, involving project management support, notification and collection, analysis, and distribution of settlement funds. Exela Technologies Inc., formerly known as Quinpario Acquisition Corp. 2, is based in United States. “

Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald restated a “buy” rating on shares of Exela Technologies in a research note on Friday, December 10th. B. Riley cut their target price on shares of Exela Technologies from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, November 9th.

XELA stock opened at $0.51 on Thursday. Exela Technologies has a 12 month low of $0.51 and a 12 month high of $7.82. The firm has a market cap of $94.08 million, a P/E ratio of -0.17 and a beta of 1.81. The company’s 50-day moving average price is $1.13 and its two-hundred day moving average price is $1.92.

Exela Technologies (NASDAQ:XELA) last posted its quarterly earnings results on Friday, November 5th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.10). The firm had revenue of $279.23 million for the quarter, compared to the consensus estimate of $310.00 million. During the same quarter in the prior year, the firm posted ($0.60) EPS. As a group, equities research analysts forecast that Exela Technologies will post -0.97 EPS for the current fiscal year.

In related news, CFO Shrikant Sortur purchased 60,480 shares of the business’s stock in a transaction that occurred on Friday, December 10th. The shares were bought at an average cost of $1.24 per share, with a total value of $74,995.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Marc A. Beilinson purchased 100,000 shares of the business’s stock in a transaction that occurred on Thursday, November 11th. The stock was bought at an average cost of $1.61 per share, for a total transaction of $161,000.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 356,600 shares of company stock valued at $475,587 in the last 90 days. 14.10% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in XELA. Monashee Investment Management LLC bought a new stake in shares of Exela Technologies during the second quarter valued at about $7,170,000. Shay Capital LLC bought a new position in shares of Exela Technologies in the second quarter worth approximately $1,902,000. EJF Capital LLC bought a new position in shares of Exela Technologies in the second quarter worth approximately $1,195,000. Goldman Sachs Group Inc. increased its position in shares of Exela Technologies by 333.9% in the second quarter. Goldman Sachs Group Inc. now owns 616,686 shares of the company’s stock worth $1,474,000 after purchasing an additional 474,551 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Exela Technologies by 112.2% in the third quarter. Geode Capital Management LLC now owns 651,526 shares of the company’s stock worth $1,263,000 after purchasing an additional 344,456 shares during the last quarter. Hedge funds and other institutional investors own 16.03% of the company’s 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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