Baird Financial Group Inc. decreased its stake in Cray Inc. (NASDAQ:CRAY) by 12.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,384 shares of the technology company’s stock after selling 10,801 shares during the period. Baird Financial Group Inc. owned 0.18% of Cray worth $1,830,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortis Advisors LLC bought a new stake in shares of Cray in the 1st quarter worth approximately $106,000. Teacher Retirement System of Texas bought a new stake in shares of Cray in the 2nd quarter worth approximately $202,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Cray in the 2nd quarter worth approximately $212,000. Eqis Capital Management Inc. bought a new stake in shares of Cray in the 2nd quarter worth approximately $230,000. Finally, Piedmont Investment Advisors LLC bought a new stake in Cray during the 2nd quarter valued at $233,000. 96.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cray stock opened at $21.25 on Monday. The firm has a market cap of $869.61 million, a price-to-earnings ratio of -21.04 and a beta of 1.49. Cray Inc. has a 1-year low of $17.90 and a 1-year high of $28.60.
Cray (NASDAQ:CRAY) last announced its earnings results on Tuesday, July 31st. The technology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.13. The firm had revenue of $120.20 million for the quarter, compared to the consensus estimate of $108.68 million. Cray had a negative return on equity of 8.18% and a negative net margin of 32.22%. The firm’s revenue for the quarter was up 38.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.20) EPS. equities research analysts expect that Cray Inc. will post -1.02 earnings per share for the current fiscal year.
Several analysts have weighed in on the company. BidaskClub downgraded Cray from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 23rd. ValuEngine downgraded Cray from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Finally, Zacks Investment Research downgraded Cray from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. Cray has a consensus rating of “Hold” and an average target price of $31.00.
Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing systems, and data analytics and artificial intelligence solutions. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.
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