Insider Selling: Cray Inc. (CRAY) SVP Sells $125,872.50 in Stock
Cray Inc. (NASDAQ:CRAY) SVP Charles A. Morreale sold 6,455 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $19.50, for a total transaction of $125,872.50. Following the sale, the senior vice president now directly owns 89,565 shares of the company’s stock, valued at $1,746,517.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Cray Inc. (NASDAQ:CRAY) opened at 19.85 on Monday. Cray Inc. has a 52-week low of $16.77 and a 52-week high of $43.79. The firm’s 50 day moving average is $21.74 and its 200 day moving average is $27.08. The stock’s market capitalization is $793.36 million.
Cray (NASDAQ:CRAY) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by $0.15. The business had revenue of $77.50 million for the quarter, compared to analyst estimates of $79.53 million. Cray had a negative return on equity of 2.19% and a negative net margin of 3.79%. The firm’s revenue for the quarter was down 59.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.48 earnings per share. Equities analysts expect that Cray Inc. will post $0.37 earnings per share for the current year.
A number of analysts recently weighed in on CRAY shares. Pacific Crest started coverage on shares of Cray in a research note on Thursday, July 28th. They issued an “overweight” rating and a $41.00 price objective for the company. Needham & Company LLC raised shares of Cray from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Tuesday, November 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 price objective (down from $40.00) on shares of Cray in a research note on Monday, November 7th. Zacks Investment Research lowered shares of Cray from a “hold” rating to a “sell” rating in a research note on Monday, August 8th. Finally, TheStreet lowered shares of Cray from a “hold” rating to a “sell” rating in a research note on Wednesday, November 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $35.57.
Several hedge funds have recently modified their holdings of CRAY. BlackRock Institutional Trust Company N.A. increased its stake in shares of Cray by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,000,267 shares of the company’s stock worth $41,921,000 after buying an additional 5,584 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Cray during the first quarter worth about $252,000. Systematic Financial Management LP increased its stake in shares of Cray by 51.4% in the second quarter. Systematic Financial Management LP now owns 58,555 shares of the company’s stock worth $1,751,000 after buying an additional 19,875 shares during the last quarter. PineBridge Investments L.P. increased its stake in shares of Cray by 4.0% in the second quarter. PineBridge Investments L.P. now owns 5,169 shares of the company’s stock worth $154,000 after buying an additional 198 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Cray during the second quarter worth about $202,000. 90.13% of the stock is owned by hedge funds and other institutional investors.
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.
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