Zacks Investment Research cut shares of Exa Corporation (NASDAQ:EXA) from a hold rating to a sell rating in a research report released on Tuesday morning.

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 research firms also recently weighed in on EXA. Needham & Company LLC downgraded Exa Corporation from a buy rating to a hold rating in a research report on Friday, September 29th. TheStreet upgraded Exa Corporation from a d rating to a c- rating in a research report on Tuesday, June 13th. Robert W. Baird downgraded Exa Corporation from an outperform rating to a neutral rating in a research report on Thursday, September 28th. Canaccord Genuity reiterated a hold rating and issued a $24.25 price objective on shares of Exa Corporation in a research report on Thursday, September 28th. Finally, Stifel Nicolaus downgraded Exa Corporation from a buy rating to a hold rating and boosted their price objective for the company from $17.00 to $24.25 in a research report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $20.63.

Exa Corporation (NASDAQ:EXA) last released its earnings results on Monday, August 28th. The technology company reported ($0.12) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.12). The company had revenue of $17.50 million during the quarter, compared to the consensus estimate of $17.58 million. Exa Corporation had a negative return on equity of 25.19% and a negative net margin of 6.46%. Exa Corporation’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) EPS.

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In related news, major shareholder Soros Fund Management Llc acquired 14,119 shares of the stock in a transaction on Tuesday, September 26th. The stock was purchased at an average price of $16.58 per share, for a total transaction of $234,093.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 243,310 shares of company stock valued at $3,628,183 in the last quarter. Corporate insiders own 11.53% of the company’s stock.

Several institutional investors have recently made changes to their positions in EXA. Russell Investments Group Ltd. raised its holdings in shares of Exa Corporation by 27.0% during the first quarter. Russell Investments Group Ltd. now owns 10,330 shares of the technology company’s stock valued at $131,000 after acquiring an additional 2,198 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Exa Corporation by 2.7% during 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 acquiring an additional 1,148 shares in the last quarter. Oxford Asset Management bought a new position in shares of Exa Corporation during the first quarter valued at approximately $140,000. American International Group Inc. raised its holdings 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 acquiring an additional 556 shares in the last quarter. Finally, Menta Capital LLC raised its holdings in shares of Exa Corporation by 4.2% during the first quarter. Menta Capital LLC now owns 42,465 shares of the technology company’s stock valued at $539,000 after acquiring an additional 1,730 shares in the last quarter. Institutional investors own 75.57% 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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