Exela Technologies, Inc. (NASDAQ:XELA)’s share price traded down 41.7% during trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $0.33 and last traded at $0.35, 4,641,800 shares traded hands during mid-day trading. An increase of 1,563% from the average session volume of 279,115 shares. The stock had previously closed at $0.60.
The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.16). The firm had revenue of $372.92 million during the quarter.
A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada set a $4.00 price objective on Exela Technologies and gave the stock a “buy” rating in a report on Friday, August 9th. Nomura reduced their price objective on Exela Technologies from $8.00 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Zacks Investment Research restated a “hold” rating on shares of Exela Technologies in a report on Saturday, October 19th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $5.06.
The firm has a market capitalization of $84.78 million, a P/E ratio of -0.45 and a beta of 1.57. The firm has a 50 day moving average of $0.92 and a 200-day moving average of $1.81.
About Exela Technologies (NASDAQ:XELA)
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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