Exa Corp (EXA) Downgraded to Hold at Canaccord Genuity

Canaccord Genuity cut shares of Exa Corp (NASDAQ:EXA) from a buy rating to a hold rating in a research report sent to investors on Friday morning. The firm currently has $15.00 target price on the stock.

EXA has been the topic of a number of other research reports. Zacks Investment Research lowered Exa Corp from a strong-buy rating to a hold rating in a report on Tuesday, January 31st. Needham & Company LLC increased their target price on Exa Corp from $16.50 to $17.00 and gave the company a buy rating in a research note on Thursday, December 1st. Finally, Robert W. Baird restated an outperform rating and set a $18.00 target price (up previously from $17.00) on shares of Exa Corp in a research note on Tuesday, February 28th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Exa Corp currently has an average rating of Buy and a consensus target price of $16.60.

Exa Corp (NASDAQ:EXA) traded down 2.10% during midday trading on Friday, reaching $13.51. The company’s stock had a trading volume of 71,942 shares. The stock has a 50-day moving average price of $15.71 and a 200 day moving average price of $15.34. Exa Corp has a 12 month low of $11.12 and a 12 month high of $16.89. The company’s market cap is $200.64 million.

Exa Corp (NASDAQ:EXA) last issued its quarterly earnings data on Thursday, March 16th. The company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.00 by $0.05. The business had revenue of $19.53 million for the quarter, compared to analyst estimates of $20.25 million. Exa Corp had a negative return on equity of 15.46% and a negative net margin of 3.87%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) EPS. Analysts expect that Exa Corp will post ($0.01) earnings per share for the current fiscal year.

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In other Exa Corp news, insider Hudong Chen sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $16.00, for a total value of $48,000.00. Following the completion of the sale, the insider now owns 119,656 shares in the company, valued at approximately $1,914,496. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James E. Hoch sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $16.00, for a total value of $192,000.00. Following the completion of the sale, the vice president now owns 153,694 shares of the company’s stock, valued at approximately $2,459,104. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,000 shares of company stock valued at $286,670. 9.89% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Conestoga Capital Advisors LLC increased its stake in shares of Exa Corp by 4.2% in the third quarter. Conestoga Capital Advisors LLC now owns 1,371,202 shares of the company’s stock worth $22,008,000 after buying an additional 55,759 shares in the last quarter. Globeflex Capital L P purchased a new stake in shares of Exa Corp during the third quarter worth approximately $894,000. Acadian Asset Management LLC increased its stake in shares of Exa Corp by 867.8% in the third quarter. Acadian Asset Management LLC now owns 45,457 shares of the company’s stock worth $730,000 after buying an additional 40,760 shares in the last quarter. Martingale Asset Management L P increased its stake in shares of Exa Corp by 99.7% in the fourth quarter. Martingale Asset Management L P now owns 61,106 shares of the company’s stock worth $939,000 after buying an additional 30,503 shares in the last quarter. Finally, Ranger Investment Management L.P. purchased a new stake in shares of Exa Corp during the fourth quarter worth approximately $232,000. Institutional investors own 78.25% of the company’s stock.

About Exa Corp

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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