Exela Technologies (NASDAQ:XELA) Trading Down 14.9% – Time to Sell?

Exela Technologies, Inc. (NASDAQ:XELA) dropped 14.9% on Monday . The company traded as low as $0.60 and last traded at $0.63. Approximately 36,470 shares traded hands during trading, a decline of 51% from the average daily volume of 74,996 shares. The stock had previously closed at $0.74.

Exela Technologies Stock Performance

The firm has a 50 day moving average price of $1.15 and a two-hundred day moving average price of $1.79. The company has a market capitalization of $4.01 million, a P/E ratio of -0.07 and a beta of 1.82.

Institutional Trading of Exela Technologies

A hedge fund recently raised its stake in Exela Technologies stock. Renaissance Technologies LLC boosted its position in shares of Exela Technologies, Inc. (NASDAQ:XELA) by 210.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,000 shares of the company’s stock after purchasing an additional 21,000 shares during the period. Renaissance Technologies LLC owned about 0.49% of Exela Technologies worth $75,000 at the end of the most recent quarter. 16.33% of the stock is owned by hedge funds and other institutional investors.

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).