Exela Technologies (XELA) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Exela Technologies (NASDAQ:XELA) from a hold rating to a sell rating in a research note published on Saturday, 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 research analysts have also commented on XELA. Morgan Stanley lowered shares of Exela Technologies from an overweight rating to an equal weight rating in a research note on Wednesday, January 16th. Cantor Fitzgerald reiterated a buy rating and set a $9.00 price objective on shares of Exela Technologies in a research note on Tuesday, March 19th.

NASDAQ XELA opened at $3.10 on Friday. The company has a market cap of $516.10 million, a P/E ratio of -4.03 and a beta of 0.99. Exela Technologies has a 52 week low of $3.04 and a 52 week high of $7.34.

Exela Technologies (NASDAQ:XELA) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.03). The company had revenue of $403.77 million for the quarter. On average, analysts forecast that Exela Technologies will post -0.45 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in XELA. Nantahala Capital Management LLC grew its position in Exela Technologies by 26.1% during the 4th quarter. Nantahala Capital Management LLC now owns 8,401,832 shares of the company’s stock worth $32,683,000 after purchasing an additional 1,739,250 shares during the last quarter. Vanguard Group Inc grew its position in Exela Technologies by 82.4% during the 3rd quarter. Vanguard Group Inc now owns 1,490,349 shares of the company’s stock worth $10,627,000 after purchasing an additional 673,372 shares during the last quarter. Vanguard Group Inc. grew its position in Exela Technologies by 82.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,490,349 shares of the company’s stock worth $10,627,000 after purchasing an additional 673,372 shares during the last quarter. Gates Capital Management Inc. grew its position in Exela Technologies by 10.4% during the 4th quarter. Gates Capital Management Inc. now owns 5,890,348 shares of the company’s stock worth $22,913,000 after purchasing an additional 557,172 shares during the last quarter. Finally, 22NW LP grew its position in Exela Technologies by 75.4% during the 4th quarter. 22NW LP now owns 872,445 shares of the company’s stock worth $3,394,000 after purchasing an additional 375,000 shares during the last quarter. 44.18% of the stock is currently owned by institutional investors.

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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