Exela Technologies (XELA) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Exela Technologies (NASDAQ:XELA) from a hold rating to a sell rating in a report issued on Friday morning.

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. “

XELA has been the topic of several other reports. Cantor Fitzgerald reaffirmed a buy rating and issued a $9.00 price target on shares of Exela Technologies in a report on Sunday, June 24th. Nomura reaffirmed a buy rating and issued a $10.00 price target on shares of Exela Technologies in a report on Sunday, August 12th.

NASDAQ XELA opened at $6.99 on Friday. The company has a debt-to-equity ratio of -21.04, a quick ratio of 0.87 and a current ratio of 0.91. Exela Technologies has a 12-month low of $4.15 and a 12-month high of $7.34. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -4.12 and a beta of 1.05.

Exela Technologies (NASDAQ:XELA) last released its quarterly earnings results on Thursday, August 9th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.12). Exela Technologies had a negative return on equity of 31,672.80% and a negative net margin of 14.28%. The firm had revenue of $410.38 million during the quarter. sell-side analysts anticipate that Exela Technologies will post -0.39 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Verition Fund Management LLC acquired a new stake in shares of Exela Technologies during the first quarter worth $114,000. California Public Employees Retirement System acquired a new stake in shares of Exela Technologies during the second quarter worth $103,000. Rhumbline Advisers acquired a new stake in shares of Exela Technologies during the second quarter worth $190,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Exela Technologies during the second quarter worth $422,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Exela Technologies during the second quarter worth $538,000. Institutional investors and hedge funds own 43.96% 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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