An international business process automation (BPA) firm, Exela Technologies was founded in the year 2017 and has its headquarters situated in Irving, Texas, United States. Investing in penny stocks always remains a speculative choice since the investment can turn both ways round. Therefore, one has to be highly careful and observant while investing in penny stocks. If the investment turns out to be successful, the shareholders can also get handsome profits from the same. Let us take into account and discuss Exela Technologies stock.
Exela Technologies Inc. (NASDAQ: XELA):
- 52 Week Range: $0.2580 – $7.8200
- Average Volume: 14,772,236
- Market Capital: $184.133M
- Forward Dividend and Yield: N/A (N/A)
Exela Technologies Stock: What do the Analysts say?
Analysts have a positive view about this company and consider this stock as a good choice for investing as of now. It is growing at a good pace and we can see this well from the 52-week range whereby the stock’s value rose from merely being $0.3580 to $7.8200. Although at present, it trades at a lower price, the firm is expanding and this expanse will play its role in the development of the firm further. Around 4,000 customers in over 50 countries have the access to the extensive range of digital platforms that Exela Technologies optimizes.
This Tuesday, the company’s stock rose by as much as three times after it announced the winning of a $90 million contract for 10 years where the digital transformation work of an American major health insurance company would accelerate. The name of the health insurance company however was not mentioned by Exela Technologies.
The company has reported losses in the past year, but in comparison to the year 2019, the losses have lessened and this signifies the progress that the firm is undergoing right now. Also, the coronavirus pandemic brought about a halt and slowed down the progress of so many firms, yet Exela Technologies did not go as much down as it was in the previous year.
Exela Technologies: A Good Penny Stock Investment?
The stock market is very volatile and everyone who invests money here has to be well prepared. In the case of penny stocks, the risk is even higher. The investors, therefore, should choose only the right stock in this case so that they do not have to incur losses. Exela Technologies at present is a fine choice for investing in penny stocks. The analysts and investors are in favor of investing here and consider this time to be right for investment.
The investors can rely on this company for investment and expect some decent profits coming on their way. As and when the company’s progress will intensify, the profits will also increase and so will the security of investment. Till then the investment seems profitable, but nothing can be said in a very sure manner about this company since it is in its growth phase currently.