BidaskClub upgraded shares of Cray (NASDAQ:CRAY) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
Several other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Cray from a hold rating to a sell rating in a report on Friday, August 3rd. ValuEngine raised shares of Cray from a hold rating to a buy rating in a report on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $31.00.
Shares of NASDAQ:CRAY traded down $0.26 during midday trading on Friday, hitting $24.07. The stock had a trading volume of 2,750 shares, compared to its average volume of 303,845. The company has a market cap of $993.56 million, a price-to-earnings ratio of -23.96 and a beta of 1.35. Cray has a 1 year low of $18.10 and a 1 year high of $28.60.
Cray (NASDAQ:CRAY) last issued its earnings results on Tuesday, October 30th. The technology company reported ($0.47) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.44) by ($0.03). The firm had revenue of $92.80 million during the quarter, compared to analysts’ expectations of $90.58 million. Cray had a negative net margin of 33.95% and a negative return on equity of 10.56%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.33) EPS. As a group, sell-side analysts forecast that Cray will post -1.55 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Cray by 5.7% in the second quarter. BlackRock Inc. now owns 5,520,714 shares of the technology company’s stock valued at $135,810,000 after purchasing an additional 295,955 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in shares of Cray by 11.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 1,560,000 shares of the technology company’s stock valued at $33,540,000 after purchasing an additional 160,000 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Cray by 27.2% in the third quarter. Victory Capital Management Inc. now owns 1,364,591 shares of the technology company’s stock valued at $29,339,000 after purchasing an additional 291,591 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Cray by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 1,354,936 shares of the technology company’s stock valued at $33,329,000 after purchasing an additional 25,498 shares during the period. Finally, Royce & Associates LP lifted its stake in shares of Cray by 27.3% in the second quarter. Royce & Associates LP now owns 1,176,481 shares of the technology company’s stock valued at $28,941,000 after purchasing an additional 252,410 shares during the period. Hedge funds and other institutional investors own 97.61% of the company’s stock.
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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