The stock of Exela Technologies, Inc. (NASDAQ:XELA) is now priced at $0.43 and the shares are -0.02 points down or -5.25% lower compared to its previous closing price of $0.45. XELA shares have a float of 60.7 million and although its performance was -0.19% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the XELA share price recently placing at $0.415 to $0.4401. However, some brokerage firms have priced the stock below the average, including one that has called $1.55.

The shorts are running away from the Exela Technologies, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the XELA shares have declined. Short interest in the stock represents just 8.6% of its float, but the volume has dropped by -116398. The volume of shorted shares dropped to 5.222 million from 5.339 million shares over the last two weeks. The average intraday trading volume has been 9.088 million shares, which means that days to cover moved to roughly 1.

In the last trading session, Exela Technologies, Inc. (NASDAQ:XELA) dropped by -$0.0008 over the week and lost -$0.0771 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.63. The stock recorded its established 52-week high on 10/04/19.

Since 03/18/20, the stock has traded to a low of $0.086 at 397.56%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.86. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, Exela Technologies, Inc.’s two-week RSI is 42.11. This suggests that the stock is neutral at the moment and that XELA shares’ price movement remains stable. The stochastic readings are equally revealing at 15.77% meaning the XELA share price is currently in overbought territory.

The technical chart shows that the XELA stock will likely settle at between $0.4403 and $0.4528 per share. However, if the stock dips below $0.4152, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.4026.

Currently, the stock is trading in the red of MACD, with a reading of -0.0074. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.

Analysts at Morgan Stanley cut their recommendation for XELA from Overweight to Equal-Weight in January 16 review. Morgan Stanley analysts see the stock as a Overweight with a target price of $9 in a flash note released to investors on October 22 initiating covering the stock.

The average rating for the XELA equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking Exela Technologies, Inc. polled by Reuters, 0 rated XELA as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.

Zacks Consensus Estimate forecasts that the current-quarter revenues for Exela Technologies, Inc. (NASDAQ:XELA) will decrease by about -99.87%, which will see them reach $388 million. The company’s full-year revenues are, however, expected to diminish by about -16.03%, down from $1560 million to $1310 million. XELA’s expected adjusted earnings should drop almost -100% to end up at $0 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -76.99% to record -$0.81/share.