Cantor Fitzgerald Reaffirms Buy Rating for Exela Technologies (XELA)

Exela Technologies (NASDAQ:XELA)‘s stock had its “buy” rating reiterated by equities research analysts at Cantor Fitzgerald in a report issued on Tuesday, April 10th. They presently have a $9.00 price objective on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 93.97% from the company’s previous close.

The analysts wrote, “Exela acquires Asterion International, a provider of technology driven business process outsourcing, document management and digital data processing across Europe. The deal is expected to expand Exela’s European business to over $200 mn in annual revenue. Click Here for the Press Release.””

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Shares of XELA stock traded down $0.07 during trading hours on Tuesday, hitting $4.64. The company had a trading volume of 209,599 shares, compared to its average volume of 208,504. The company has a debt-to-equity ratio of -130.19, a quick ratio of 0.90 and a current ratio of 0.93. Exela Technologies has a fifty-two week low of $4.37 and a fifty-two week high of $10.00. The firm has a market cap of $729.26, a P/E ratio of -2.84 and a beta of 0.44.

Exela Technologies (NASDAQ:XELA) last issued its quarterly earnings data on Thursday, March 15th. The company reported ($0.08) EPS for the quarter. The firm had revenue of $386.29 million for the quarter. research analysts predict that Exela Technologies will post 0.07 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of Exela Technologies in the 4th quarter worth approximately $102,000. Wells Fargo & Company MN acquired a new stake in Exela Technologies during the 4th quarter worth approximately $138,000. Monashee Investment Management LLC acquired a new stake in Exela Technologies during the 4th quarter worth approximately $143,000. Millennium Management LLC acquired a new stake in Exela Technologies during the 4th quarter worth approximately $355,000. Finally, Geode Capital Management LLC lifted its holdings in Exela Technologies by 658.4% during the 4th quarter. Geode Capital Management LLC now owns 87,567 shares of the company’s stock worth $450,000 after buying an additional 76,021 shares in the last quarter. Hedge funds and other institutional investors own 33.77% of the company’s stock.

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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).

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