Exela Technologies (XELA) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Stock analysts at Cantor Fitzgerald began coverage on shares of Exela Technologies (NASDAQ:XELA) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $9.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 74.76% from the stock’s previous close.

The analysts wrote, “Exela (formed through the merger of SourceHov & Novitex-07/12/2017) is a Business Process Outsourcing (BPO) company providing information and transaction processing solutions. The company breaks down its business into three segments: Information & Transaction Processing Solutions (ITPS-78% of revs), Healthcare Solutions (HS-16% of revs) and Legal & Loss Prevention Solutions (LLPS-6% of revs). We believe Xela has a competitive advantage in transaction processing.””

Shares of Exela Technologies (XELA) traded up $0.05 during mid-day trading on Tuesday, reaching $5.15. The company had a trading volume of 38,473 shares, compared to its average volume of 136,512. Exela Technologies has a 1 year low of $4.37 and a 1 year high of $10.15. The company has a debt-to-equity ratio of 31.25, a quick ratio of 0.91 and a current ratio of 0.95.

In related news, Director John H. Rexford purchased 27,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were purchased at an average price of $5.06 per share, for a total transaction of $136,620.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 29.70% 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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