Stifel Nicolaus Downgrades Exa Corporation (EXA) to Hold
Exa Corporation (NASDAQ:EXA) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report issued on Thursday.
Several other equities research analysts also recently commented on EXA. ValuEngine raised shares of Exa Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Zacks Investment Research downgraded shares of Exa Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 25th. TheStreet raised shares of Exa Corporation from a “d” rating to a “c-” rating in a report on Tuesday, June 13th. Finally, Robert W. Baird downgraded shares of Exa Corporation from an “outperform” rating to a “neutral” rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.05.
Exa Corporation (NASDAQ EXA) remained flat at $24.18 during mid-day trading on Thursday. The stock had a trading volume of 1,746,191 shares. The firm’s market cap is $363.09 million. Exa Corporation has a 52 week low of $12.34 and a 52 week high of $24.22. The stock’s 50 day moving average is $14.19 and its 200-day moving average is $13.77.
Exa Corporation (NASDAQ:EXA) last posted its quarterly earnings results on Monday, August 28th. The technology company reported ($0.12) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.12). The company had revenue of $17.50 million during 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 for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) earnings per share. On average, analysts predict that Exa Corporation will post ($0.12) EPS for the current fiscal year.
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In other news, major shareholder Soros Fund Management Llc purchased 53,502 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders bought 243,310 shares of company stock worth $3,628,183. Insiders own 11.53% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings 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. Soros Fund Management LLC lifted its holdings 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. Menta Capital LLC lifted its holdings in shares of Exa Corporation by 4.2% in the first quarter. Menta Capital LLC now owns 42,465 shares of the technology company’s stock worth $539,000 after buying an additional 1,730 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Exa Corporation by 27.0% in the first quarter. Russell Investments Group Ltd. now owns 10,330 shares of the technology company’s stock worth $131,000 after buying an additional 2,198 shares in the last quarter. Finally, Ranger Investment Management L.P. lifted its holdings 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. 76.03% of the stock is currently owned by hedge funds and other institutional investors.
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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