If you are currently looking into stocks which may have rallied strongly over the course of the past month then it could be a good idea to perhaps look into the Exela Technologies (NASDAQ:XELA) stock.
Trading Data
On Tuesday, XELA stock moved down 3.26% to $0.8163 with 40.65 million shares, compared to its average volume of 34.47 million shares. The stock moved within a range of $0.7846 – 0.8898 after opening trade at $0.8550.
Key Analysis
During the course of that period, the stock has moved strongly and managed to bring in gains to the tune of as much as 24%. In light of such gains, it might be a good time for investors to take a closer look at the company’s business and recent developments. At this point in time, Exela Technologies is the leading player in the business process automation spaces and boasts of as many as 4000 clients who are spread across 50 nations.
On the other hand, it is also necessary to point out that the fiscal year 2021 had proven to be a particularly important one for the company. During that fiscal year, Exela had managed to raise as much as $407 million in the form of gross equity and perhaps more importantly, it was successful in slashing its long term debt by as much as $454 million during the same period. The optimism around the stock at this point in time is perhaps not a complete surprise.
Technical Data
XELA stock is trading above the 50-Day and 200-Day Moving averages of $0.87 and $1.75 respectively. However, the stock is trading below the 200-Day moving average of $0.72.
