Shares of Cray Inc (NASDAQ:CRAY) have been assigned an average rating of “Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $24.00.

Several brokerages recently weighed in on CRAY. KeyCorp restated a “buy” rating and set a $24.00 target price on shares of Cray in a research note on Wednesday. BidaskClub upgraded Cray from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 1st. Stifel Nicolaus restated a “buy” rating and set a $26.00 target price on shares of Cray in a research note on Wednesday, August 16th. Finally, Zacks Investment Research upgraded Cray from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, October 17th.

Hedge funds have recently made changes to their positions in the business. Oppenheimer & Co. Inc. lifted its position in shares of Cray by 13.1% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 90,500 shares of the technology company’s stock worth $1,665,000 after acquiring an additional 10,500 shares during the period. Principal Financial Group Inc. lifted its position in shares of Cray by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 309,625 shares of the technology company’s stock worth $6,781,000 after acquiring an additional 10,763 shares during the period. Legal & General Group Plc lifted its position in shares of Cray by 1.0% in the 1st quarter. Legal & General Group Plc now owns 70,704 shares of the technology company’s stock worth $1,548,000 after acquiring an additional 734 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Cray by 21.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 196,999 shares of the technology company’s stock worth $3,625,000 after acquiring an additional 34,252 shares during the period. Finally, Teachers Advisors LLC lifted its position in shares of Cray by 13.9% in the 2nd quarter. Teachers Advisors LLC now owns 120,236 shares of the technology company’s stock worth $2,212,000 after acquiring an additional 14,645 shares during the period. Institutional investors own 96.14% of the company’s stock.

Shares of Cray (CRAY) opened at $19.05 on Friday. Cray has a 52 week low of $16.10 and a 52 week high of $22.85. The firm has a market capitalization of $770.34, a P/E ratio of 272.14 and a beta of 1.64.

Cray (NASDAQ:CRAY) last announced its earnings results on Monday, October 30th. The technology company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.16. Cray had a return on equity of 0.73% and a net margin of 2.71%. The firm had revenue of $79.70 million during the quarter, compared to the consensus estimate of $59.67 million. During the same quarter in the prior year, the company earned ($0.49) EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. equities analysts forecast that Cray will post -1.19 earnings per share for the current year.

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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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