Zacks Investment Research upgraded shares of Cray (NASDAQ:CRAY) from a sell rating to a hold rating in a report released on Tuesday.
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. “
Several other research analysts have also commented on CRAY. ValuEngine lowered Cray from a buy rating to a hold rating in a research report on Monday, August 13th. BidaskClub upgraded Cray from a sell rating to a hold rating in a research report on Friday, November 2nd. One research 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. The stock currently has a consensus rating of Buy and a consensus price target of $31.00.
Cray (NASDAQ:CRAY) last issued its earnings results on Tuesday, October 30th. The technology company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.03). The firm had revenue of $92.80 million during the quarter, compared to analyst estimates of $90.58 million. Cray had a negative return on equity of 10.56% and a negative net margin of 33.95%. Cray’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.33) EPS. On average, analysts anticipate that Cray will post -1.5 earnings per share for the current fiscal year.
In other news, SVP Michael Charles Piraino sold 20,000 shares of Cray stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 68,230 shares in the company, valued at approximately $1,711,890.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Brian C. Henry sold 18,667 shares of Cray stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $24.19, for a total value of $451,554.73. Following the completion of the transaction, the vice president now owns 87,939 shares of the company’s stock, valued at approximately $2,127,244.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,185 shares of company stock valued at $1,748,654. Insiders own 4.10% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Cray by 5.1% in the 3rd quarter. BlackRock Inc. now owns 5,800,460 shares of the technology company’s stock worth $124,710,000 after acquiring an additional 279,746 shares in the last quarter. Vanguard Group Inc. boosted its position in Cray by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,114,360 shares of the technology company’s stock valued at $88,458,000 after purchasing an additional 98,077 shares during the period. State of New Jersey Common Pension Fund D boosted its position in Cray by 11.4% during the 3rd 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. boosted its position in Cray by 27.2% during the 3rd 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. Finally, Bank of New York Mellon Corp boosted its position in Cray by 1.9% during the 2nd 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. 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.
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