Exa Corporation (NASDAQ:EXA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Exa Corporation develops, markets, sells, and supports software products, and provides professional services for simulation-driven design. The Company offers PowerFLOW(R) simulation engine, automatic fluid grid generation engine, mesh preparation, advanced simulation analysis, and rapid design geometry modification products. The company’s software suite includes PowerDELTA, PowerCASE, PowerCLAY, PowerTHERM, PowerCOOL, PowerINSIGHT, PowerVIZ and PowerACOUSTICS. Its products are used in various applications, including aerodynamics, thermal management, aeroacoustics, climate control, and powertrain. . Exa Corporation is headquartered in Burlington, Massachusetts. “
Several other analysts have also issued reports on EXA. TheStreet raised Exa Corporation from a “d” rating to a “c-” rating in a report on Tuesday, June 13th. ValuEngine raised Exa Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Robert W. Baird lowered Exa Corporation from an “outperform” rating to a “neutral” rating in a report on Thursday, September 28th. Stifel Nicolaus lowered Exa Corporation from a “buy” rating to a “hold” rating and boosted their price target for the company from $17.00 to $24.25 in a report on Thursday, September 28th. Finally, Canaccord Genuity reissued a “hold” rating and set a $24.25 price target on shares of Exa Corporation in a report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $20.63.
Exa Corporation (NASDAQ EXA) traded up 0.12% during mid-day trading on Tuesday, hitting $24.25. The company’s stock had a trading volume of 56,700 shares. Exa Corporation has a 52-week low of $12.34 and a 52-week high of $24.42. The company’s 50 day moving average is $17.31 and its 200-day moving average is $14.49. The stock’s market cap is $364.14 million.
Exa Corporation (NASDAQ:EXA) last released its quarterly earnings results on Monday, August 28th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.12). Exa Corporation had a negative return on equity of 25.19% and a negative net margin of 6.46%. The business had revenue of $17.50 million during the quarter, compared to analyst estimates of $17.58 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Exa Corporation’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts predict that Exa Corporation will post ($0.12) EPS for the current fiscal year.
In other Exa Corporation news, major shareholder Soros Fund Management Llc acquired 53,502 shares of the stock in a transaction dated Monday, September 18th. The shares were acquired at an average cost of $15.49 per share, for a total transaction of $828,745.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 243,310 shares of company stock worth $3,628,183 over the last 90 days. Company insiders own 11.53% of the company’s stock.
Several large investors have recently bought and sold shares of EXA. Ranger Investment Management L.P. lifted its position in shares of Exa Corporation by 289.3% in the first quarter. Ranger Investment Management L.P. now owns 58,850 shares of the technology company’s stock worth $747,000 after buying an additional 43,733 shares in the last quarter. Soros Fund Management LLC lifted its position in shares of Exa Corporation by 3.0% in the first quarter. Soros Fund Management LLC now owns 1,418,369 shares of the technology company’s stock worth $18,013,000 after buying an additional 41,703 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Exa Corporation by 2.1% in the first quarter. Vanguard Group Inc. now owns 588,431 shares of the technology company’s stock worth $7,473,000 after buying an additional 12,135 shares in the last quarter. Oxford Asset Management purchased a new stake in shares of Exa Corporation in the first quarter worth about $140,000. Finally, Metropolitan Life Insurance Co. NY lifted its position in shares of Exa Corporation by 399.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 10,576 shares of the technology company’s stock worth $134,000 after buying an additional 8,459 shares in the last quarter. Institutional investors own 75.57% of the company’s stock.
About Exa Corporation
Exa Corporation develops, sells and supports simulation software and services that manufacturers use in design and engineering processes. The Company focuses primarily on the ground transportation market, including manufacturers in the passenger vehicle, highway truck, off-highway vehicle and train markets, as well as their suppliers.
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