Exa Corporation (NASDAQ:EXA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “

A number of other brokerages have also recently commented on EXA. Needham & Company LLC cut Exa Corporation from a “buy” rating to a “hold” rating in a report on Friday. BidaskClub raised Exa Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Canaccord Genuity reaffirmed a “hold” rating and issued a $24.25 price target on shares of Exa Corporation in a research note on Thursday, September 28th. Stifel Nicolaus cut Exa Corporation from a “buy” rating to a “hold” rating and boosted their price target for the stock from $17.00 to $24.25 in a research report on Thursday, September 28th. Finally, Robert W. Baird cut Exa Corporation from an “outperform” rating to a “neutral” rating in a research report on Thursday, September 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $19.50.

Exa Corporation (NASDAQ:EXA) traded up 0.04% during mid-day trading on Tuesday, reaching $24.25. The company’s stock had a trading volume of 395,726 shares. The firm’s 50 day moving average is $15.80 and its 200-day moving average is $14.09. Exa Corporation has a 12-month low of $12.34 and a 12-month high of $24.42. The company’s market cap is $364.14 million.

Exa Corporation (NASDAQ:EXA) last issued its quarterly earnings results on Monday, August 28th. The technology company reported ($0.12) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.12). Exa Corporation had a negative net margin of 6.46% and a negative return on equity of 25.19%. The firm had revenue of $17.50 million for the quarter, compared to analyst estimates of $17.58 million. During the same period last year, the company posted ($0.05) EPS. Exa Corporation’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts anticipate that Exa Corporation will post ($0.12) earnings per share for the current fiscal year.

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In related news, major shareholder Soros Fund Management Llc bought 14,119 shares of the stock in a transaction dated Tuesday, September 26th. The shares were acquired at an average cost of $16.58 per share, for a total transaction of $234,093.02. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders have purchased 243,310 shares of company stock valued at $3,628,183. 11.53% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American International Group Inc. raised its holdings in shares of Exa Corporation by 7.0% during the 1st quarter. American International Group Inc. now owns 8,530 shares of the technology company’s stock worth $108,000 after acquiring an additional 556 shares during the period. Rhumbline Advisers grew its holdings in shares of Exa Corporation by 4.6% in the second quarter. Rhumbline Advisers now owns 13,871 shares of the technology company’s stock valued at $191,000 after purchasing an additional 605 shares during the period. Parametric Portfolio Associates LLC grew its holdings in shares of Exa Corporation by 1.0% in the second quarter. Parametric Portfolio Associates LLC now owns 72,592 shares of the technology company’s stock valued at $1,002,000 after purchasing an additional 750 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Exa Corporation by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 43,454 shares of the technology company’s stock valued at $552,000 after purchasing an additional 1,148 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in shares of Exa Corporation by 0.6% in the first quarter. Renaissance Technologies LLC now owns 241,800 shares of the technology company’s stock valued at $3,071,000 after purchasing an additional 1,500 shares during the period. Institutional investors and hedge funds own 76.03% of the company’s stock.

Exa Corporation Company Profile

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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