Cray Inc (CRAY) Rating Increased to Sell at BidaskClub
Cray Inc (NASDAQ:CRAY) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Wednesday.
Several other brokerages also recently issued reports on CRAY. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price objective (down from $25.00) on shares of Cray in a research report on Wednesday, May 3rd. ValuEngine upgraded Cray from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. TheStreet downgraded Cray from a “c” rating to a “d+” rating in a research report on Wednesday, May 3rd. Finally, Zacks Investment Research upgraded Cray from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $32.25.
Shares of Cray (CRAY) traded down 1.85% during trading on Wednesday, hitting $18.55. The stock had a trading volume of 391,529 shares. The firm’s 50-day moving average is $18.09 and its 200-day moving average is $18.99. Cray has a one year low of $16.10 and a one year high of $32.24. The firm’s market cap is $742.20 million.
Cray (NASDAQ:CRAY) last issued its quarterly earnings data on Tuesday, May 2nd. The technology company reported ($0.71) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by $0.21. The business had revenue of $59.03 million for the quarter, compared to analyst estimates of $56.60 million. Cray had a negative return on equity of 2.02% and a negative net margin of 0.61%. Equities research analysts forecast that Cray will post ($1.09) EPS for the current year.
In other Cray 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 value of $37,100.00. Following the completion of the sale, the director now directly owns 20,675 shares in the company, valued at $383,521.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Deane Retirement Strategies Inc. purchased a new stake in Cray during the first quarter worth $1,798,000. Norges Bank purchased a new stake in Cray during the fourth quarter worth $18,645,000. FMR LLC increased its stake in Cray by 25.9% in the fourth quarter. FMR LLC now owns 943,364 shares of the technology company’s stock worth $19,528,000 after buying an additional 194,200 shares during the period. Ameriprise Financial Inc. increased its stake in Cray by 4.8% in the first quarter. Ameriprise Financial Inc. now owns 212,960 shares of the technology company’s stock worth $4,665,000 after buying an additional 9,820 shares during the period. Finally, Mason Street Advisors LLC increased its stake in Cray by 7.0% in the first quarter. Mason Street Advisors LLC now owns 9,525 shares of the technology company’s stock worth $209,000 after buying an additional 621 shares during the period. Hedge funds and other institutional investors own 94.66% of the company’s stock.
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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