Cray (NASDAQ:CRAY) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, November 21st.
Several other equities research analysts have also recently weighed in on CRAY. BidaskClub cut shares of Cray from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Stifel Nicolaus restated a “buy” rating and issued a $26.00 price objective on shares of Cray in a research report on Wednesday, August 16th. Zacks Investment Research upgraded shares of Cray from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday, October 17th. KeyCorp reiterated a “buy” rating and set a $24.00 price target on shares of Cray in a research report on Wednesday, November 1st. Finally, Wells Fargo & Company initiated coverage on shares of Cray in a research report on Tuesday, November 14th. They set an “outperform” rating and a $26.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $24.40.
Shares of Cray (NASDAQ:CRAY) traded up $0.45 during mid-day trading on Tuesday, reaching $21.95. 170,130 shares of the company traded hands, compared to its average volume of 359,966. Cray has a 12-month low of $16.10 and a 12-month high of $24.25. The company has a market cap of $879.53, a P/E ratio of 310.71 and a beta of 1.69.
Cray (NASDAQ:CRAY) last announced its quarterly earnings results on Monday, October 30th. The technology company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.16. The firm had revenue of $79.70 million during the quarter, compared to the consensus estimate of $59.67 million. Cray had a net margin of 2.71% and a return on equity of 0.73%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted ($0.49) EPS. equities research analysts expect that Cray will post -1.14 EPS for the current year.
In other Cray news, SVP Charles A. Morreale sold 42,680 shares of Cray stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $19.37, for a total value of $826,711.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael Charles Piraino sold 30,000 shares of Cray stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $22.61, for a total transaction of $678,300.00. Following the completion of the transaction, the senior vice president now directly owns 72,384 shares in the company, valued at approximately $1,636,602.24. The disclosure for this sale can be found here. Insiders have sold a total of 74,005 shares of company stock worth $1,534,913 in the last three months. 4.00% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio bought a new position in Cray in the third quarter valued at approximately $101,000. SG Americas Securities LLC bought a new position in Cray in the third quarter valued at approximately $124,000. State of Alaska Department of Revenue lifted its stake in Cray by 77.3% in the second quarter. State of Alaska Department of Revenue now owns 7,979 shares of the technology company’s stock valued at $146,000 after buying an additional 3,479 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Cray by 3.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 9,620 shares of the technology company’s stock valued at $177,000 after buying an additional 330 shares in the last quarter. Finally, UBS Asset Management Americas Inc. bought a new position in Cray in the first quarter valued at approximately $287,000. 96.31% of the stock is currently owned by hedge funds and other institutional investors.
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Cray Company Profile
Cray Inc is engaged in designing, developing, manufacturing, marketing and servicing the high performance computing (HPC) market, primarily categories of systems known as supercomputers. The Company’s segments include Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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