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

A number of other brokerages have also weighed in on EXA. Needham & Company LLC lowered shares of Exa Corporation from a “buy” rating to a “hold” rating in a research note on Friday. TheStreet upgraded shares of Exa Corporation from a “d” rating to a “c-” rating in a research report on Tuesday, June 13th. Robert W. Baird downgraded 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 price target on shares of Exa Corporation in a research note on Thursday, September 28th. Finally, Stifel Nicolaus downgraded shares of Exa Corporation from a “buy” rating to a “hold” rating and increased their price target for the stock from $17.00 to $24.25 in a research note on Thursday, September 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Exa Corporation has a consensus rating of “Hold” and a consensus price target of $19.50.

Exa Corporation (NASDAQ:EXA) traded up 0.04% during trading on Tuesday, reaching $24.25. 395,726 shares of the company traded hands. The firm’s 50 day moving average price is $15.80 and its 200 day moving average price is $14.09. Exa Corporation has a 12-month low of $12.34 and a 12-month high of $24.42. The firm’s market capitalization 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 for the quarter, meeting the consensus estimate of ($0.12). The business had revenue of $17.50 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Equities research analysts expect that Exa Corporation will post ($0.12) earnings per share for the current year.

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In other Exa Corporation news, major shareholder Soros Fund Management Llc bought 53,502 shares of Exa Corporation stock in a transaction dated Monday, September 18th. The shares were purchased at an average cost of $15.49 per share, with a total value of $828,745.98. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have acquired 243,310 shares of company stock valued at $3,628,183 in the last three months. Insiders own 11.53% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. American International Group Inc. grew its stake in shares of Exa Corporation by 7.0% in the 1st quarter. American International Group Inc. now owns 8,530 shares of the technology company’s stock worth $108,000 after buying an additional 556 shares during the last quarter. 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 buying an additional 2,198 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in Exa Corporation by 399.6% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 10,576 shares of the technology company’s stock valued at $134,000 after buying an additional 8,459 shares in the last quarter. Oxford Asset Management bought a new position in Exa Corporation during the 1st quarter valued at approximately $140,000. Finally, Rhumbline Advisers increased its position in Exa Corporation by 4.6% during the 2nd quarter. Rhumbline Advisers now owns 13,871 shares of the technology company’s stock valued at $191,000 after buying an additional 605 shares in the last quarter. 76.03% of the stock is currently owned by hedge funds and other 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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