Cray Inc. (NASDAQ:CRAY) was downgraded by TheStreet from a “hold” rating to a “sell” rating in a report released on Wednesday.

A number of other brokerages have also recently weighed in on CRAY. KeyCorp reduced their price target on shares of Cray from $41.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, August 3rd. Zacks Investment Research raised shares of Cray from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. Stifel Nicolaus reduced their price target on shares of Cray from $49.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Needham & Company LLC raised shares of Cray from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Tuesday. Finally, Pacific Crest assumed coverage on shares of Cray in a research report on Thursday, July 28th. They issued an “overweight” rating and a $41.00 price target for the company. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $35.57.

Analyst Recommendations for Cray (NASDAQ:CRAY)

Shares of Cray (NASDAQ:CRAY) opened at 19.65 on Wednesday. Cray has a 52-week low of $16.77 and a 52-week high of $43.79. The stock’s 50 day moving average price is $21.82 and its 200-day moving average price is $27.22. The firm has a market capitalization of $782.29 million, a PE ratio of 62.38 and a beta of 1.40.

Cray (NASDAQ:CRAY) last announced its quarterly earnings results on Monday, November 7th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by $0.15. Cray had a negative net margin of 3.79% and a negative return on equity of 2.16%. The company earned $77.50 million during the quarter, compared to analysts’ expectations of $79.53 million. During the same period last year, the firm earned $0.48 earnings per share. Cray’s revenue was down 59.5% on a year-over-year basis. Equities research analysts anticipate that Cray will post $0.44 EPS for the current fiscal year.

In related news, SVP Michael Charles Piraino sold 15,000 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $21.97, for a total transaction of $329,550.00. Following the completion of the transaction, the senior vice president now directly owns 63,937 shares of the company’s stock, valued at $1,404,695.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Charles A. Morreale sold 6,455 shares of the stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $19.50, for a total transaction of $125,872.50. Following the transaction, the senior vice president now directly owns 89,565 shares of the company’s stock, valued at $1,746,517.50. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its position in Cray by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the company’s stock valued at $542,000 after buying an additional 100 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Cray by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,050 shares of the company’s stock valued at $213,000 after buying an additional 150 shares in the last quarter. American Century Companies Inc. boosted its position in Cray by 0.3% in the second quarter. American Century Companies Inc. now owns 61,863 shares of the company’s stock valued at $1,851,000 after buying an additional 194 shares in the last quarter. PineBridge Investments L.P. boosted its position in Cray by 4.0% in the second quarter. PineBridge Investments L.P. now owns 5,169 shares of the company’s stock valued at $154,000 after buying an additional 198 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Cray by 1.4% in the second quarter. Arizona State Retirement System now owns 21,200 shares of the company’s stock valued at $634,000 after buying an additional 300 shares in the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.

About Cray

Cray Inc designs, develops, manufactures, markets and services the high-end of the high performance computing (HPC) market, primarily categories of systems, known as supercomputers and provides storage and data analytics solutions. The Company provides software, system maintenance, support services and engineering services related to supercomputer systems.

5 Day Chart for NASDAQ:CRAY

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