Cray (NASDAQ:CRAY) was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

CRAY has been the topic of a number of other reports. Zacks Investment Research raised shares of Cray from a “sell” rating to a “hold” rating in a report on Tuesday, November 27th. BidaskClub raised shares of Cray from a “hold” rating to a “buy” rating in a report on Friday, March 1st. TheStreet raised shares of Cray from a “d+” rating to a “c-” rating in a report on Thursday, March 14th. Finally, KeyCorp dropped their target price on shares of Cray from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, February 13th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Cray presently has an average rating of “Buy” and an average target price of $32.50.

Shares of NASDAQ:CRAY opened at $25.55 on Tuesday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -17.99 and a beta of 1.36. Cray has a 1-year low of $18.76 and a 1-year high of $28.60.

Cray (NASDAQ:CRAY) last issued its earnings results on Tuesday, February 12th. The technology company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.15). The business had revenue of $163.00 million for the quarter, compared to analyst estimates of $157.90 million. Cray had a negative return on equity of 15.97% and a negative net margin of 15.72%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the company posted $0.22 earnings per share. Sell-side analysts anticipate that Cray will post -1.33 EPS for the current fiscal year.

In related news, CEO Peter J. Ungaro sold 86,971 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $22.61, for a total value of $1,966,414.31. Following the sale, the chief executive officer now owns 322,647 shares of the company’s stock, valued at approximately $7,295,048.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Peter J. Ungaro sold 63,029 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $22.39, for a total transaction of $1,411,219.31. Following the completion of the sale, the chief executive officer now directly owns 337,532 shares in the company, valued at approximately $7,557,341.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,000 shares of company stock worth $3,932,634. Corporate insiders own 4.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in shares of Cray by 10.0% in the 4th quarter. Geode Capital Management LLC now owns 515,429 shares of the technology company’s stock worth $11,128,000 after acquiring an additional 47,058 shares during the period. Norges Bank acquired a new stake in shares of Cray in the 4th quarter worth about $5,536,000. Actinver Wealth Management Inc. acquired a new stake in shares of Cray in the 4th quarter worth about $206,000. Millennium Management LLC increased its holdings in shares of Cray by 372.4% in the 4th quarter. Millennium Management LLC now owns 237,062 shares of the technology company’s stock worth $5,118,000 after acquiring an additional 186,876 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Cray by 4.4% in the 4th quarter. Legal & General Group Plc now owns 97,847 shares of the technology company’s stock worth $2,101,000 after acquiring an additional 4,139 shares during the period. 98.27% of the stock is currently owned by institutional investors and hedge funds.

About Cray

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.

Featured Story: Benefits of owning preferred stock

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Cray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cray and related companies with MarketBeat.com's FREE daily email newsletter.