Needham & Company LLC downgraded shares of Exa Corporation (NASDAQ:EXA) from a buy rating to a hold rating in a research report report published on Friday, MarketBeat.com reports.

A number of other research analysts have also recently commented on the stock. Robert W. Baird cut shares of Exa Corporation from an outperform rating to a neutral rating in a research note on Thursday, September 28th. Canaccord Genuity reissued a hold rating and issued a $24.25 target price on shares of Exa Corporation in a report on Thursday, September 28th. ValuEngine raised Exa Corporation from a sell rating to a hold rating in a report on Tuesday, September 12th. Stifel Nicolaus downgraded Exa Corporation from a buy rating to a hold rating and raised their target price for the stock from $17.00 to $24.25 in a research report on Thursday, September 28th. Finally, BidaskClub raised Exa Corporation from a hold rating to a buy rating in a research note on Thursday, September 28th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $19.50.

Exa Corporation (NASDAQ EXA) opened at 24.24 on Friday. The firm’s market capitalization is $363.99 million. Exa Corporation has a 52 week low of $12.34 and a 52 week high of $24.42. The firm has a 50-day moving average price of $15.51 and a 200-day moving average price of $14.01.

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

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In other Exa Corporation news, major shareholder Soros Fund Management Llc bought 159,500 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were bought at an average price of $14.46 per share, for a total transaction of $2,306,370.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought a total of 243,310 shares of company stock worth $3,628,183 over the last three months. 11.53% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in EXA. American International Group Inc. grew its stake in shares of Exa Corporation by 7.0% during the first quarter. American International Group Inc. now owns 8,530 shares of the technology company’s stock valued at $108,000 after purchasing an additional 556 shares during the last quarter. Rhumbline Advisers increased 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 in the last quarter. Parametric Portfolio Associates LLC increased 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 in the last quarter. Bank of New York Mellon Corp increased 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 in the last quarter. Finally, Renaissance Technologies LLC increased 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 in the last quarter. Institutional investors own 76.03% 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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