Zacks Investment Research Upgrades Exela Technologies (NASDAQ:XELA) to Hold

Exela Technologies (NASDAQ:XELA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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. “

Several other analysts have also weighed in on the stock. B. Riley decreased 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. Cantor Fitzgerald reiterated a “buy” rating on shares of Exela Technologies in a research report on Friday, December 10th.

NASDAQ:XELA opened at $0.51 on Thursday. The firm’s 50-day moving average is $1.13 and its 200-day moving average is $1.92. Exela Technologies has a 52-week low of $0.51 and a 52-week high of $7.82. The company has a market cap of $94.08 million, a price-to-earnings ratio of -0.17 and a beta of 1.81.

Exela Technologies (NASDAQ:XELA) last posted its quarterly earnings data on Friday, November 5th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the firm posted ($0.60) EPS. As a group, research analysts forecast that Exela Technologies will post -0.97 EPS for the current fiscal year.

In other Exela Technologies news, Chairman Par Chadha sold 100,000 shares of the business’s stock in a transaction dated Monday, November 15th. The shares were sold at an average price of $1.66, for a total value of $166,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Shrikant Sortur bought 60,480 shares of the company’s stock in a transaction on Friday, December 10th. The stock was bought at an average cost of $1.24 per share, with a total value of $74,995.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 356,600 shares of company stock worth $475,587. Company insiders own 14.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of XELA. National Asset Management Inc. bought a new stake in shares of Exela Technologies during the second quarter worth approximately $29,000. Susquehanna International Group LLP bought a new stake in shares of Exela Technologies during the second quarter worth approximately $357,000. Monashee Investment Management LLC bought a new stake in shares of Exela Technologies during the second quarter worth approximately $7,170,000. Sassicaia Capital Advisers LLC bought a new stake in Exela Technologies in the second quarter valued at approximately $120,000. Finally, JPMorgan Chase & Co. increased its stake in Exela Technologies by 417,460.0% in the second quarter. JPMorgan Chase & Co. now owns 41,756 shares of the company’s stock valued at $100,000 after purchasing an additional 41,746 shares in the last quarter. 16.03% 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).

See Also: How to read a candlestick chart

Get a free copy of the Zacks research report on Exela Technologies (XELA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Exela Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exela Technologies and related companies with MarketBeat.com's FREE daily email newsletter.