Two trending stocks: SCWorx Corp and Exela Technologies

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Two trending stocks: SCWorx Corp and Exela Technologies

 Two trending stocks: SCWorx Corp and Exela Technologies
Image source: Denphumi,Shutterstock

Summary

  • Exela Technologies, Inc (Nasdaq: XELA) stock soared by 39.03% at 12.51 pm ET on July 13.
  • SCWorx Corp (Nasdaq: WORX) stock surged 27.45% at 12.26 pm on July 13 after social media hype.
  • XELA has reported revenue of US$300.1 million in Q1, 2021.

Exela Technologies, Inc. (Nasdaq: XELA) stock jumped 39.03% a day after it announced the deployment of artificial intelligence and robotic-enabled technologies in its operations, while the SCWorx Corp (Nasdaq: WORX) stock surged 27.45% after it trends on social media.

Exela, a leader in business process automation (BPA), provides solutions to healthcare and public service companies. Exela stock had risen by 39.03% to US$4.83 at 12.51 pm ET on July 13.

The stock gained more than 80% since July 6. XELA has a market cap of US$289 million. The P/E forward 1 year of XELA is -1.99 and the beta is 1.81. XELA’s 52-week highest stock price was US$7.82, and the lowest was US$0.99. Its share volume is 348,430,591.

Source: Pixabay.

XELA has reported revenue of US$300.1 million in Q1, 2021, down 17.9% YoY. Gross profit was 22.5%. The company’s operating income was US$4.3 million compared to an operating loss of US$2.2 million YoY.  Its net loss was US$39.2 million compared to US$54.6 million YoY. Adjusted EBITDA was US$46.5 million in Q1, 2021, and US$44.4 in Q1, 2020.

On May 27, the company completed a US$100 million at-the-market equity program. It has now entered the US$150 million at-the-market program. It will use this offering to fund development programs and expand sales and marketing. The company also launched the Digital Mailroom (DMR) platform for small and medium businesses in the UK on June 30 this year.

Why SCWorx Corp (WORX) stock surged today?

The SCWorx Corp (Nasdaq: WORX) stock surged 27.45% to US$3.38 at 12.26 pm ET on July 13, from the previous close. Its price had reached a high of US$4.79 at 9.39 am ET. The software company provides solutions to healthcare businesses.

The stock price shot up after a social media buzz around it. The stock was discussed on various social media platforms like Twitter, Reddit, Discord, and StockTwits. However, there is no clear reason for the surge. The company has not made any announcement or filed reports with the SEC either.

Its stock prices increased by 131.50% YTD. The company’s market capitalization is US$34 million. Its beta is 7.04. WORX’s 52-week highest stock price is US$4.02, and the lowest is US$1. Share volume is 97,923,981. The company plans to present its earnings reports in August this year.

Also read: JP Morgan, Goldman Sachs start earnings season with strong Q2 results

The Nasdaq stock exchange in April notified the company for its failure to file 10-K for the financial year ended December 2020. It must file the 10-K within 60 days of the notice. If it fails, it needs to submit a compliance plan by the said date.

Please note: The above constitutes a preliminary view, and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.

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