BidaskClub Upgrades Exa Corporation (EXA) to Buy
BidaskClub upgraded shares of Exa Corporation (NASDAQ:EXA) from a hold rating to a buy rating in a report issued on Thursday morning.
Several other brokerages have also recently weighed in on EXA. Canaccord Genuity restated a hold rating and set a $24.25 target price on shares of Exa Corporation in a report on Thursday. Stifel Nicolaus cut Exa Corporation from a buy rating to a hold rating and lifted their price target for the stock from $17.00 to $24.25 in a research note on Thursday. Robert W. Baird cut Exa Corporation from an outperform rating to a neutral rating in a research note on Thursday. ValuEngine raised Exa Corporation from a sell rating to a hold rating in a research note on Tuesday, September 12th. Finally, TheStreet downgraded Exa Corporation from a c- rating to a d rating in a research report on Monday, August 28th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Exa Corporation has an average rating of Hold and an average target price of $19.50.
Exa Corporation (NASDAQ:EXA) opened at 24.18 on Thursday. The firm’s market cap is $363.09 million. The stock has a 50 day moving average of $14.19 and a 200-day moving average of $13.77. Exa Corporation has a 12 month low of $12.34 and a 12 month high of $24.42.
Exa Corporation (NASDAQ:EXA) last announced its quarterly earnings data on Monday, August 28th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.12). The firm had revenue of $17.50 million for the quarter, compared to analysts’ expectations of $17.58 million. Exa Corporation had a negative return on equity of 25.19% and a negative net margin of 6.46%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) earnings per share. Equities research analysts predict that Exa Corporation will post ($0.12) earnings per share for the current fiscal year.
In other news, major shareholder Soros Fund Management Llc bought 53,502 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was bought at an average cost of $15.49 per share, for a total transaction of $828,745.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have bought 243,310 shares of company stock valued at $3,628,183. Insiders own 11.53% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in 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 acquiring an additional 12,135 shares during the period. Soros Fund Management LLC boosted its holdings in 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 valued at $18,013,000 after acquiring an additional 41,703 shares in the last quarter. Menta Capital LLC increased its position in Exa Corporation by 4.2% during the 1st quarter. Menta Capital LLC now owns 42,465 shares of the technology company’s stock valued at $539,000 after purchasing an additional 1,730 shares during the period. Russell Investments Group Ltd. increased its position in Exa Corporation by 27.0% during the 1st quarter. Russell Investments Group Ltd. now owns 10,330 shares of the technology company’s stock valued at $131,000 after purchasing an additional 2,198 shares during the period. Finally, Ranger Investment Management L.P. increased its position in Exa Corporation by 289.3% during the 1st quarter. Ranger Investment Management L.P. now owns 58,850 shares of the technology company’s stock valued at $747,000 after purchasing an additional 43,733 shares during the period. 76.03% of the stock is owned by institutional investors.
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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