Exela Technologies, Inc. (NASDAQ:XELA – Get Rating) was the recipient of a significant increase in short interest in May. As of May 31st, there was short interest totalling 41,650,000 shares, an increase of 26.3% from the May 15th total of 32,980,000 shares. Based on an average daily volume of 39,080,000 shares, the days-to-cover ratio is presently 1.1 days.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. B. Riley Financial Inc. lifted its holdings in Exela Technologies by 502.4% during the 1st quarter. B. Riley Financial Inc. now owns 35,419,029 shares of the company’s stock worth $14,741,000 after purchasing an additional 29,539,088 shares during the last quarter. B. Riley Asset Management LLC lifted its holdings in Exela Technologies by 289.6% during the 1st quarter. B. Riley Asset Management LLC now owns 12,013,455 shares of the company’s stock worth $5,000,000 after purchasing an additional 8,930,128 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Exela Technologies by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 10,258,679 shares of the company’s stock worth $4,270,000 after purchasing an additional 3,416,298 shares during the last quarter. BlackRock Inc. lifted its holdings in Exela Technologies by 119.9% during the 1st quarter. BlackRock Inc. now owns 4,846,933 shares of the company’s stock worth $2,018,000 after purchasing an additional 2,643,135 shares during the last quarter. Finally, Shay Capital LLC lifted its holdings in Exela Technologies by 139.7% during the 1st quarter. Shay Capital LLC now owns 3,506,019 shares of the company’s stock worth $1,459,000 after purchasing an additional 2,043,054 shares during the last quarter. 7.75% of the stock is owned by institutional investors.
XELA opened at $0.14 on Friday. Exela Technologies has a 12-month low of $0.13 and a 12-month high of $5.45. The stock has a market cap of $63.20 million, a price-to-earnings ratio of -0.14 and a beta of 1.78. The business has a 50 day moving average of $0.28 and a 200-day moving average of $0.58.
A number of research analysts have weighed in on the company. B. Riley downgraded Exela Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $3.00 to $0.55 in a research note on Wednesday, March 23rd. Cantor Fitzgerald cut their price objective on Exela Technologies from $4.00 to $2.00 and set an “overweight” rating for the company in a research report on Thursday, March 24th.
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).
- Get a free copy of the StockNews.com research report on Exela Technologies (XELA)
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