KeyCorp Reaffirms “Buy” Rating for Cray (CRAY)

Cray (NASDAQ:CRAY)‘s stock had its “buy” rating reaffirmed by investment analysts at KeyCorp in a note issued to investors on Friday, January 19th. They currently have a $31.00 price objective on the technology company’s stock. KeyCorp’s target price would indicate a potential upside of 32.20% from the company’s previous close.

Several other equities analysts have also issued reports on CRAY. Zacks Investment Research upgraded Cray from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Tuesday, October 17th. Wells Fargo & Co initiated coverage on Cray in a research note on Tuesday, November 14th. They issued an “outperform” rating and a $26.00 price target on the stock. Craig Hallum upgraded Cray from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st. ValuEngine upgraded Cray from a “sell” rating to a “hold” rating in a research note on Tuesday, November 21st. Finally, TheStreet upgraded Cray from a “d+” rating to a “c-” rating in a research note on Monday, November 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Cray has an average rating of “Buy” and a consensus target price of $26.80.

Cray (CRAY) traded up $0.45 during trading on Friday, reaching $23.45. The company’s stock had a trading volume of 288,484 shares, compared to its average volume of 329,612. Cray has a 12-month low of $16.50 and a 12-month high of $26.65. The company has a market cap of $926.03, a price-to-earnings ratio of 327.14 and a beta of 1.53.

In related news, SVP Michael Charles Piraino sold 1,100 shares of the business’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $23.00, for a total transaction of $25,300.00. Following the sale, the senior vice president now owns 43,484 shares in the company, valued at approximately $1,000,132. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of CRAY. Schwab Charles Investment Management Inc. grew its position in Cray by 21.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 196,999 shares of the technology company’s stock worth $3,625,000 after acquiring an additional 34,252 shares during the last quarter. Legal & General Group Plc grew its position in Cray by 7.9% during the 2nd quarter. Legal & General Group Plc now owns 76,294 shares of the technology company’s stock worth $1,404,000 after acquiring an additional 5,590 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in Cray by 59.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,393 shares of the technology company’s stock worth $246,000 after acquiring an additional 5,001 shares during the last quarter. Teachers Advisors LLC grew its position in Cray by 13.9% during the 2nd quarter. Teachers Advisors LLC now owns 120,236 shares of the technology company’s stock worth $2,212,000 after acquiring an additional 14,645 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in Cray by 1.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 161,516 shares of the technology company’s stock worth $2,972,000 after acquiring an additional 2,373 shares during the last quarter. Institutional investors and hedge funds own 96.24% of the company’s stock.

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About Cray

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.

Analyst Recommendations for Cray (NASDAQ:CRAY)

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