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 recently weighed in on CRAY. Wells Fargo & Co set a $9.00 price target on shares of Bausch Health Companies and gave the company a sell rating in a research report on Friday, May 17th. BidaskClub raised shares of Misonix from a buy rating to a strong-buy rating in a research report on Wednesday, July 3rd. TheStreet raised shares of ExOne from a d rating to a c rating in a research report on Thursday, March 14th. ValuEngine cut shares of Zymeworks from a buy rating to a hold rating in a research report on Saturday, May 18th. Finally, Craig Hallum cut shares of Cray from a buy rating to a hold rating in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $33.00.
Cray (NASDAQ:CRAY) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.09). The firm had revenue of $71.55 million for the quarter, compared to analyst estimates of $70.67 million. Cray had a negative net margin of 16.99% and a negative return on equity of 17.89%. The company’s revenue was down 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.53) EPS. On average, analysts expect that Cray will post -1.77 EPS for the current fiscal year.
In related news, CFO Brian C. Henry sold 3,591 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $30.00, for a total value of $107,730.00. Following the sale, the chief financial officer now directly owns 66,955 shares in the company, valued at approximately $2,008,650. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brian C. Henry sold 36,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $28.97, for a total transaction of $1,042,920.00. Following the completion of the sale, the vice president now owns 106,546 shares in the company, valued at $3,086,637.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,000 shares of company stock worth $2,809,919. 4.00% of the stock is owned by insiders.
Large investors have recently modified their holdings of the business. Quantamental Technologies LLC increased its stake in shares of Cray by 1,027.8% during the first quarter. Quantamental Technologies LLC now owns 3,767 shares of the technology company’s stock worth $98,000 after buying an additional 3,433 shares during the period. Neuburgh Advisers LLC increased its stake in shares of Cray by 32.9% during the fourth quarter. Neuburgh Advisers LLC now owns 4,848 shares of the technology company’s stock worth $105,000 after buying an additional 1,200 shares during the period. Actinver Wealth Management Inc. purchased a new stake in shares of Cray during the fourth quarter worth approximately $206,000. Gotham Asset Management LLC purchased a new stake in shares of Cray during the fourth quarter worth approximately $224,000. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of Cray during the fourth quarter worth approximately $255,000. Institutional investors own 97.34% of the company’s stock.
Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing products for high-performance computing, data analytics, and AI markets. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.
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