Exela Technologies (NASDAQ:XELA) Stock Price Down 9.2% – Time to Sell?

Shares of Exela Technologies, Inc. (NASDAQ:XELA) fell 9.2% during mid-day trading on Monday . The stock traded as low as $0.54 and last traded at $0.59. 50,624 shares traded hands during trading, an increase of 17% from the average session volume of 43,358 shares. The stock had previously closed at $0.65.

Exela Technologies Trading Down 9.2 %

The company has a market capitalization of $3.76 million, a price-to-earnings ratio of -0.07 and a beta of 1.82. The stock has a 50-day simple moving average of $1.00 and a 200-day simple moving average of $1.62.

Hedge Funds Weigh In On Exela Technologies

An institutional investor recently raised its position in Exela Technologies stock. Renaissance Technologies LLC increased its position in Exela Technologies, Inc. (NASDAQ:XELA) by 210.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,000 shares of the company’s stock after acquiring an additional 21,000 shares during the period. Renaissance Technologies LLC owned approximately 0.49% of Exela Technologies worth $75,000 at the end of the most recent reporting period. 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).