Cray Inc. (CRAY) Given Consensus Recommendation of “Hold” by Analysts
Cray Inc. (NASDAQ:CRAY) has received a consensus rating of “Hold” from the eight ratings firms that are presently covering the firm. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $35.67.
Several equities analysts recently commented on the company. Needham & Company LLC raised Cray from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, November 8th. TheStreet lowered Cray from a “hold” rating to a “sell” rating in a report on Wednesday, November 9th. Zacks Investment Research downgraded shares of Cray from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 10th. KeyCorp decreased their price objective on shares of Cray from $41.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, August 3rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $30.00 price objective (down previously from $40.00) on shares of Cray in a research note on Monday, November 7th.
Cray (NASDAQ:CRAY) opened at 19.75 on Thursday. The stock’s market cap is $789.37 million. The company has a 50 day moving average price of $21.61 and a 200 day moving average price of $26.76. Cray has a 52 week low of $16.77 and a 52 week high of $43.79.
Cray (NASDAQ:CRAY) last posted its earnings results on Monday, November 7th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.34) by $0.15. The business earned $77.50 million during the quarter, compared to analysts’ expectations of $79.53 million. Cray had a negative net margin of 3.79% and a negative return on equity of 2.19%. The business’s quarterly revenue was down 59.5% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. Analysts expect that Cray will post $0.37 EPS for the current fiscal year.
In other news, SVP Charles A. Morreale sold 6,455 shares of the stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $19.50, for a total transaction of $125,872.50. Following the completion of the sale, the senior vice president now owns 89,565 shares in the company, valued at $1,746,517.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.00% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Cray by 37.0% in the first quarter. BlackRock Inc. now owns 3,017 shares of the company’s stock worth $127,000 after buying an additional 815 shares during the last quarter. Invictus RG purchased a new stake in shares of Cray during the first quarter worth approximately $150,000. Acrospire Investment Management LLC increased its stake in shares of Cray by 457.1% in the second quarter. Acrospire Investment Management LLC now owns 3,900 shares of the company’s stock worth $117,000 after buying an additional 3,200 shares during the last quarter. Springbok Capital Management LLC purchased a new stake in shares of Cray during the first quarter worth approximately $180,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Cray by 3,382.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,666 shares of the company’s stock worth $140,000 after buying an additional 4,532 shares during the last quarter. Hedge funds and other institutional investors own 90.13% of the company’s stock.
Cray Company Profile
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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