Cray Inc (CRAY) Issues Earnings Results
Cray Inc (NASDAQ:CRAY) released its quarterly earnings results on Thursday. The technology company reported ($0.20) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.34, Bloomberg Earnings reports. Cray had a negative return on equity of 2.02% and a negative net margin of 0.61%. The business had revenue of $87.10 million for the quarter, compared to the consensus estimate of $60.18 million. During the same quarter last year, the business posted ($0.29) earnings per share. The company’s revenue for the quarter was down 13.1% on a year-over-year basis.
Cray (NASDAQ:CRAY) traded up 2.15% on Thursday, hitting $19.00. The stock had a trading volume of 356,195 shares. The company’s 50 day moving average price is $18.20 and its 200 day moving average price is $18.94. The firm’s market cap is $760.21 million. Cray has a 52-week low of $16.10 and a 52-week high of $32.24.
In other news, Director Stephen C. Kiely sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were 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 $383,521.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.00% of the company’s stock.
CRAY has been the topic of a number of research reports. BidaskClub downgraded Cray from a “sell” rating to a “strong sell” rating in a research report on Tuesday. ValuEngine upgraded Cray from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Needham & Company LLC restated a “buy” rating and set a $23.00 price target (down previously from $25.00) on shares of Cray in a research report on Wednesday, May 3rd. Zacks Investment Research upgraded Cray from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, TheStreet downgraded Cray from a “c” rating to a “d+” rating in a research report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Cray presently has a consensus rating of “Hold” and a consensus target price of $32.25.
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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