Cray Inc (NASDAQ:CRAY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Cray Inc., formerly Tera Computer Company, designs, builds and sells high-performance vector processor and general-purpose parallel computer systems. The company has leading edge technology, multiple product platforms, annual revenues, nearly 900 employees, major manufacturing and service capabilities, and extensive global customer relationships. (PRESS RELEASE) “

Several other brokerages have also commented on CRAY. Needham & Company LLC restated a “buy” rating and set a $23.00 target price (down previously from $25.00) on shares of Cray in a research report on Wednesday, May 3rd. TheStreet lowered Cray from a “c” rating to a “d+” rating in a research report on Wednesday, May 3rd. Finally, ValuEngine raised Cray from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $32.25.

Cray (NASDAQ CRAY) traded down 0.82% during midday trading on Tuesday, hitting $18.25. The stock had a trading volume of 118,781 shares. The stock’s market capitalization is $730.20 million. The company’s 50 day moving average price is $17.98 and its 200-day moving average price is $19.24. Cray has a 52 week low of $16.10 and a 52 week high of $32.30.

Cray (NASDAQ:CRAY) last announced its earnings results on Tuesday, May 2nd. The technology company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.50) by $0.21. Cray had a negative net margin of 0.61% and a negative return on equity of 2.02%. The business had revenue of $59.03 million for the quarter, compared to the consensus estimate of $56.60 million. Equities analysts anticipate that Cray will post ($1.09) earnings per share for the current fiscal year.

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In related news, Director Stephen C. Kiely sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $18.55, for a total transaction of $37,100.00. Following the transaction, the director now directly owns 20,675 shares of the company’s stock, valued at approximately $383,521.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.00% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CRAY. Louisiana State Employees Retirement System increased its position in Cray by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the technology company’s stock worth $364,000 after buying an additional 200 shares during the period. Deane Retirement Strategies Inc. purchased a new position in Cray during the first quarter worth $1,798,000. Teachers Advisors LLC increased its position in Cray by 8.2% in the fourth quarter. Teachers Advisors LLC now owns 1,046,416 shares of the technology company’s stock worth $21,661,000 after buying an additional 79,317 shares during the period. Norges Bank purchased a new position in Cray during the fourth quarter worth $18,645,000. Finally, Putnam Investments LLC purchased a new position in Cray during the fourth quarter worth $1,216,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Cray Company Profile

Cray Inc is engaged in designing, developing, manufacturing, marketing and servicing the high performance computing (HPC) market, primarily categories of systems known as supercomputers. The Company’s segments include Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other.

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