Municipal Employees Retirement System of Michigan held its position in shares of Cray Inc (NASDAQ:CRAY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,290 shares of the technology company’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Cray were worth $203,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Interstate Bank boosted its stake in Cray by 17.7% in the first quarter. First Interstate Bank now owns 6,065 shares of the technology company’s stock worth $133,000 after buying an additional 910 shares in the last quarter. Alambic Investment Management L.P. purchased a new stake in Cray during the first quarter worth approximately $208,000. Mason Street Advisors LLC boosted its stake in Cray by 7.0% in the first quarter. Mason Street Advisors LLC now owns 9,525 shares of the technology company’s stock worth $209,000 after buying an additional 621 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in Cray during the first quarter worth approximately $287,000. Finally, US Bancorp DE boosted its stake in Cray by 5.6% in the first quarter. US Bancorp DE now owns 13,166 shares of the technology company’s stock worth $289,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.
Shares of Cray Inc (NASDAQ:CRAY) traded down 0.50% on Friday, reaching $19.95. The company’s stock had a trading volume of 232,538 shares. Cray Inc has a 1-year low of $16.10 and a 1-year high of $25.32. The stock has a market capitalization of $801.13 million, a PE ratio of 297.76 and a beta of 1.62. The stock has a 50-day moving average of $18.43 and a 200 day moving average of $18.95.
Cray (NASDAQ:CRAY) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.34. The firm had revenue of $87.10 million during the quarter, compared to analysts’ expectations of $60.18 million. Cray had a net margin of 0.47% and a negative return on equity of 1.03%. The business’s revenue for the quarter was down 13.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.29) earnings per share. On average, equities analysts forecast that Cray Inc will post ($1.18) EPS for the current year.
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A number of research firms recently issued reports on CRAY. Zacks Investment Research lowered Cray from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. TheStreet lowered Cray from a “c” rating to a “d+” rating in a report on Wednesday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price objective (down previously from $25.00) on shares of Cray in a report on Wednesday, May 3rd. BidaskClub lowered Cray from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Finally, ValuEngine raised Cray from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $26.50.
In related news, Director Stephen C. Kiely sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $18.55, for a total transaction of $37,100.00. Following the completion of the transaction, the director now owns 20,675 shares in the company, valued at $383,521.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.00% of the stock is currently owned by insiders.
Cray Company Profile
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.
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