BidaskClub upgraded shares of Cray (NASDAQ:CRAY) from a sell rating to a hold rating in a research note released on Thursday morning.
CRAY has been the topic of a number of other reports. Zacks Investment Research cut Cray from a strong-buy rating to a hold rating in a report on Friday, February 16th. TheStreet cut Cray from a c- rating to a d rating in a report on Friday, March 2nd. KeyCorp reissued a buy rating and set a $31.00 price objective on shares of Cray in a report on Friday, January 19th. Finally, Craig Hallum set a $30.00 price objective on Cray and gave the company a buy rating in a report on Tuesday, March 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Cray has an average rating of Buy and a consensus price target of $27.33.
Shares of NASDAQ:CRAY traded down $0.10 on Thursday, hitting $22.55. The company’s stock had a trading volume of 50,442 shares, compared to its average volume of 318,526. Cray has a 1 year low of $16.50 and a 1 year high of $26.65. The stock has a market cap of $932.96, a P/E ratio of -22.43 and a beta of 1.49.
Cray (NASDAQ:CRAY) last released its quarterly earnings results on Thursday, February 15th. The technology company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. Cray had a negative return on equity of 8.51% and a negative net margin of 34.10%. The firm had revenue of $166.60 million for the quarter, compared to analysts’ expectations of $164.03 million. During the same quarter last year, the firm posted $1.38 EPS. The company’s revenue was down 51.9% compared to the same quarter last year. equities analysts expect that Cray will post -0.82 earnings per share for the current fiscal year.
In related news, CEO Peter J. Ungaro sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $22.14, for a total transaction of $1,771,200.00. Following the transaction, the chief executive officer now directly owns 342,207 shares of the company’s stock, valued at approximately $7,576,462.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael Charles Piraino sold 18,900 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $22.01, for a total value of $415,989.00. Following the transaction, the senior vice president now directly owns 59,884 shares in the company, valued at $1,318,046.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,400 shares of company stock worth $2,572,539. 4.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CRAY. SG Americas Securities LLC bought a new position in Cray during the 3rd quarter worth approximately $124,000. MainStreet Investment Advisors LLC bought a new position in Cray during the 4th quarter worth approximately $242,000. Teacher Retirement System of Texas bought a new position in Cray during the 4th quarter worth approximately $331,000. Levin Capital Strategies L.P. grew its position in Cray by 31.1% during the 4th quarter. Levin Capital Strategies L.P. now owns 15,082 shares of the technology company’s stock worth $365,000 after acquiring an additional 3,580 shares during the last quarter. Finally, Quantitative Investment Management LLC bought a new position in Cray during the 4th quarter worth approximately $423,000. Institutional investors and hedge funds own 97.32% of the company’s stock.
Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing systems, and data analytics and artificial intelligence solutions. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.
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