Exela Technologies (XELA) Downgraded by Morgan Stanley to “Equal Weight”

Exela Technologies (NASDAQ:XELA) was downgraded by equities research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday, January 16th, MarketBeat.com reports.

Separately, Zacks Investment Research downgraded shares of Exela Technologies from a “hold” rating to a “sell” rating in a research note on Friday, September 21st.

Shares of XELA stock traded up $0.18 on Wednesday, reaching $4.26. 55,489 shares of the stock were exchanged, compared to its average volume of 71,204. The company has a market cap of $646.02 million, a P/E ratio of -2.57 and a beta of 1.03. Exela Technologies has a twelve month low of $3.39 and a twelve month high of $7.34.

Exela Technologies (NASDAQ:XELA) last issued its earnings results on Thursday, November 8th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.18). The company had revenue of $383.03 million for the quarter. As a group, equities analysts expect that Exela Technologies will post -0.63 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in Exela Technologies during the fourth quarter worth about $59,000. California Public Employees Retirement System purchased a new position in Exela Technologies during the second quarter worth about $103,000. Virtu Financial LLC purchased a new position in Exela Technologies during the third quarter worth about $104,000. Jane Street Group LLC purchased a new position in Exela Technologies during the third quarter worth about $187,000. Finally, Rhumbline Advisers purchased a new position in Exela Technologies during the second quarter worth about $190,000. 44.53% of the stock is owned by institutional investors and hedge funds.

About Exela Technologies

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).

Read More: Intrinsic Value

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