Exela Technologies (NASDAQ:XELA) Shares Down 9.2% – Should You Sell?

Exela Technologies, Inc. (NASDAQ:XELA)’s share price was down 9.2% during mid-day trading on Monday . The stock traded as low as $0.54 and last traded at $0.59. Approximately 50,624 shares were traded during trading, an increase of 17% from the average daily volume of 43,358 shares. The stock had previously closed at $0.65.

Exela Technologies Trading Down 1.8 %

The company’s 50-day simple moving average is $0.97 and its 200 day simple moving average is $1.60. The stock has a market cap of $3.50 million, a P/E ratio of -0.06 and a beta of 1.79.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Exela Technologies stock. Renaissance Technologies LLC increased its stake in Exela Technologies, Inc. (NASDAQ:XELA) by 210.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 31,000 shares of the company’s stock after buying an additional 21,000 shares during the quarter. Renaissance Technologies LLC owned 0.49% of Exela Technologies worth $75,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 16.33% of the company’s stock.

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).