B. Riley Capital Management LLC recently announced the acquisition of new stake in Exela Technologies Inc. (NASDAQ:XELA). The institutional investor has increased its shareholding in the Technology company by 108.33% to 3.75 million shares with purchase of 1.95 million shares. This fresh investment now brings its stake to 5.77% valued currently at $0.89 million. In addition, Shay Capital LLC raised its holdings by 1.45 million to 1.95 million shares. And BlackRock Fund Advisors has lifted its position by 327.33% or 0.97 million shares – to 1.27 million shares.
With over 21.24 million Exela Technologies Inc. (XELA) shares trading Monday and a closing price of $0.19 on the day, the dollar volume was approximately $4.04 million. The shares have shown a negative half year performance of -96.47% and its price on 11/21/22 lost nearly -15.44%. Currently, there are 63.15M common shares owned by the public and among those 60.88M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for XELA have a consensus price objective of $2.50. The analysts have set the share’s price value over the next 12 months at a high of $3.00 and a low of $2.00. The average price target is 92.4% above its recent price level and an upside to the estimated low will see the stock gain 90.5% over that period. But an upside of 93.67% will see the stock hit the forecast high price target while median target price for the stock is $2.50.
Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 25 of these insider trades were purchases, accounting for 2,230,486 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 2,145,751 shares.
The top 3 mutual fund holders in Exela Technologies Inc. are Direxion Work From Home ETF, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Direxion Work From Home ETF owns 1.29 million shares of the company’s stock, all valued at over $0.31 million. Vanguard Extended Market Index Fu bought 0.34 million shares to see its total holdings expand to 0.67 million shares valued at over $0.16 million and representing 1.04% of the shares outstanding. Fidelity Extended Market Index Fu bought 0.2 million shares to bring its total holdings to over 0.32 million shares at a value of $76818.0. Fidelity Extended Market Index Fu now owns shares totaling to 0.50% of the shares outstanding.
Shares of Exela Technologies Inc. (NASDAQ: XELA) opened at $0.225, down -$0.01 from a prior closing price of $0.23. However, the script later moved the day high at 0.2259, down -15.44%. The company’s stock has a 5-day price change of -52.79% and -82.78% over the past three months. XELA shares are trading -98.91% year to date (YTD), with the 12-month market performance down to -99.30% lower. It has a 12-month low price of $0.17 and touched a high of $28.80 over the same period. XELA has an average intraday trading volume of 13.26 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -19.80%, -51.53%, and -95.86% respectively.
Institutional ownership of Exela Technologies Inc. (NASDAQ: XELA) shares accounts for 14.30% of the company’s 63.15M shares outstanding. Mutual fund holders own 13.33%, while other institutional holders and individual stakeholders account for 4.06% and 0.05% respectively.
It has a market capitalization of $15.73M and a beta (3y monthly) value of 1.71. The earnings-per-share (ttm) stands at -$14.84. Price movements for the stock have been influenced by the stock’s volatility, which stands at 19.98% over the week and 18.97% over the month.
Analysts forecast that Exela Technologies Inc. (XELA) will achieve an EPS of -$0.58 for the current quarter, -$0.43 for the next quarter and -$0.96 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.71 while analysts give the company a high EPS estimate of -$0.46. Comparatively, EPS for the current quarter was -$5.4 a year ago. Earnings per share for the fiscal year are expected to increase by 66.70%, and 71.80% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Exela Technologies Inc. (XELA) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 1 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the XELA, a number of firms have released research notes about the stock. B. Riley Securities stated their Neutral rating for the stock in a research note on March 23, 2022, with the firm’s price target at $3-$0.55. B. Riley Securities coverage for the Exela Technologies Inc. (XELA) stock in a research note released on August 31, 2021 offered a Buy rating with a price target of $4. Morgan Stanley was of a view on January 16, 2019 that the stock is Equal-Weight, while Morgan Stanley gave the stock Overweight rating on October 22, 2018, issuing a price target of $9.