Zacks Investment Research upgraded shares of Cray (NASDAQ:CRAY) from a sell rating to a hold rating in a research note published on Tuesday morning.
According to Zacks, “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. The Supercomputing segment includes a suite of supercomputer systems, which are used by engineering centers in universities, government laboratories, and commercial institutions. The Storage and Data Management segment includes Cray Data Warp and Sonexion, as well as other third-party storage products and their ongoing maintenance and system analysts. The Maintenance and Support segment provides ongoing maintenance of Cray supercomputers, big data storage and analytics systems, as well as system analysts. The Engineering Services and Other segment include the Company’s analytics business and Custom Engineering. “
CRAY has been the topic of several other reports. BidaskClub upgraded Cray from a strong sell rating to a sell rating in a research note on Thursday, October 18th. ValuEngine upgraded Cray from a buy rating to a strong-buy rating in a research note on Thursday, November 1st. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $31.00.
Shares of NASDAQ CRAY opened at $24.99 on Tuesday. The firm has a market capitalization of $1.03 billion, a PE ratio of -24.74 and a beta of 1.36. Cray has a 12-month low of $18.76 and a 12-month high of $28.60.
Cray (NASDAQ:CRAY) last announced its quarterly earnings data on Tuesday, October 30th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.03). The company had revenue of $92.80 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted ($0.33) earnings per share. Analysts anticipate that Cray will post -1.5 EPS for the current year.
In other Cray news, SVP Michael Charles Piraino sold 20,000 shares of the firm’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $25.09, for a total value of $501,800.00. Following the sale, the senior vice president now directly owns 68,230 shares in the company, valued at $1,711,890.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brian C. Henry sold 18,667 shares of the firm’s stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $24.19, for a total value of $451,554.73. Following the completion of the sale, the vice president now owns 87,939 shares in the company, valued at $2,127,244.41. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,185 shares of company stock worth $1,748,654. 4.10% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Cray by 2.4% during the third quarter. Vanguard Group Inc. now owns 4,114,360 shares of the technology company’s stock worth $88,458,000 after purchasing an additional 98,077 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Cray by 8.4% during the third quarter. Legal & General Group Plc now owns 93,708 shares of the technology company’s stock worth $2,011,000 after purchasing an additional 7,264 shares during the last quarter. Teachers Advisors LLC grew its holdings in shares of Cray by 11.2% during the third quarter. Teachers Advisors LLC now owns 169,008 shares of the technology company’s stock worth $3,634,000 after purchasing an additional 16,976 shares during the last quarter. MetLife Investment Advisors LLC grew its holdings in shares of Cray by 57.2% during the third quarter. MetLife Investment Advisors LLC now owns 30,320 shares of the technology company’s stock worth $652,000 after purchasing an additional 11,030 shares during the last quarter. Finally, Putnam Investments LLC purchased a new position in shares of Cray during the third quarter worth about $983,000. Institutional investors own 97.40% of the company’s stock.
Cray Company Profile
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.
Further Reading: Investing in Growth Stocks
Get a free copy of the Zacks research report on Cray (CRAY)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cray and related companies with MarketBeat.com's FREE daily email newsletter.