A Reversal for Xerox Corporation (NYSE:XRX) Is Not Near. The Stock Has Rise in Shorts

June 16, 2018 - By Marguerite Chambers

Xerox Corporation (NYSE:XRX) Logo

Investors sentiment decreased to 0.17 in 2018 Q1. Its down 0.13, from 0.3 in 2017Q4. It worsened, as 3 investors sold Xerox Corporation shares while 3 reduced holdings. 1 funds opened positions while 0 raised stakes. 341,591 shares or 93.87% less from 5.57 million shares in 2017Q4 were reported.
Asset reported 1,250 shares or 0.01% of all its holdings. 7,784 are owned by Wellington Shields Communication Limited Liability Com. Adirondack Research holds 16,433 shares. Focused Wealth Mgmt accumulated 4,751 shares. Columbia Asset Management, a Michigan-based fund reported 8,536 shares. Moreover, Cibc Ww Corporation has 0.09% invested in Xerox Corporation (NYSE:XRX). The Texas-based Fruth Investment has invested 0.15% in Xerox Corporation (NYSE:XRX). Boltwood Capital Management has 0.24% invested in Xerox Corporation (NYSE:XRX) for 11,983 shares.

Since January 31, 2018, it had 0 insider purchases, and 2 sales for $44.60 million activity.

The stock of Xerox Corporation (NYSE:XRX) registered an increase of 15.07% in short interest. XRX’s total short interest was 4.17M shares in June as published by FINRA. Its up 15.07% from 3.62 million shares, reported previously. With 2.42 million shares average volume, it will take short sellers 2 days to cover their XRX’s short positions. The short interest to Xerox Corporation’s float is 1.89%.

The stock decreased 1.19% or $0.33 during the last trading session, reaching $27.41. About 3.55M shares traded or 34.82% up from the average. Xerox Corporation (NYSE:XRX) has declined 0.18% since June 16, 2017 and is downtrending. It has underperformed by 12.75% the S&P500.

Xerox Corporation provides document management solutions worldwide. The company has market cap of $6.98 billion. The companyÂ’s Document Technology segment offers desktop monochrome and color printers, multifunction printers, copiers, digital printing presses, and light production devices; and production printing and publishing systems for the graphic communications marketplace and large enterprises. It has a 38.5 P/E ratio. The Company’s Services segment provides document outsourcing services comprising managed print, workflow automation, and communication and marketing services.

Xerox Corporation (NYSE:XRX) Ratings Coverage

Among 5 analysts covering Xerox (NYSE:XRX), 1 have Buy rating, 0 Sell and 4 Hold. Therefore 20% are positive. Xerox has $40 highest and $3800 lowest target. $38.67’s average target is 41.08% above currents $27.41 stock price. Xerox had 6 analyst reports since January 31, 2018 according to SRatingsIntel. On Tuesday, February 13 the stock rating was maintained by JP Morgan with “Overweight”. The stock of Xerox Corporation (NYSE:XRX) earned “Buy” rating by UBS on Monday, February 5. The stock of Xerox Corporation (NYSE:XRX) has “Hold” rating given on Wednesday, January 31 by BMO Capital Markets. J.P. Morgan downgraded it to “Hold” rating and $3800 target in Monday, May 14 report. The company was downgraded on Monday, May 14 by JP Morgan. The firm earned “Hold” rating on Wednesday, January 31 by Standpoint Research.

Another recent and important Xerox Corporation (NYSE:XRX) news was published by Seekingalpha.com which published an article titled: “Xerox: An Opportunity That’s Hard To Duplicate” on May 31, 2018.

Xerox Corporation (NYSE:XRX) Ratings Chart

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