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Stifel Nicolaus assumed coverage on shares of Cray (NASDAQ:CRAY) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.

Cray (NASDAQ:CRAY) opened at 27.81 on Tuesday. Cray has a 1-year low of $21.30 and a 1-year high of $42.09. The stock has a 50-day moving average of $28.03 and a 200-day moving average of $30.62. The company has a market cap of $1.074 billion and a P/E ratio of 53.73.

Cray (NASDAQ:CRAY) last posted its quarterly earnings results on Tuesday, July 29th. The company reported ($0.22) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.30) by $0.08. The company had revenue of $85.10 million for the quarter, compared to the consensus estimate of $74.75 million. During the same quarter last year, the company posted ($0.19) earnings per share. Cray’s revenue was up .7% compared to the same quarter last year. On average, analysts predict that Cray will post $0.77 earnings per share for the current fiscal year.

Separately, analysts at Needham & Company LLC initiated coverage on shares of Cray in a research note on Wednesday, July 30th. They set a “buy” rating and a $37.00 price target on the stock.

In other Cray news, Director Frank L. Lederman sold 15,748 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $26.55, for a total value of $418,109.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Cray Inc designs, develops, manufactures, markets and services high-performance computing (NASDAQ:CRAY), systems, including categories of systems commonly known as supercomputers and/or clusters, and provide storage solutions, software and engineering services related to HPC systems to its customers, which include government agencies and government-funded entities, academic institutions and commercial entities.

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