Cray Inc (NASDAQ:CRAY) was upgraded by Craig Hallum from a “hold” rating to a “buy” rating in a research note issued on Tuesday, MarketBeat Ratings reports.

Several other equities research analysts also recently issued reports on CRAY. BidaskClub downgraded shares of Cray from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 price target on shares of Cray in a research note on Wednesday, August 16th. Zacks Investment Research raised shares of Cray from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Tuesday, October 17th. KeyCorp reaffirmed a “buy” rating and set a $24.00 price target on shares of Cray in a research note on Wednesday, November 1st. Finally, Wells Fargo & Company started coverage on shares of Cray in a research note on Tuesday, November 14th. They set an “outperform” rating and a $26.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Cray currently has a consensus rating of “Hold” and an average target price of $24.40.

Cray (CRAY) traded up $0.60 during trading on Tuesday, reaching $21.35. 357,500 shares of the company traded hands, compared to its average volume of 364,826. Cray has a 12-month low of $16.10 and a 12-month high of $22.55. The stock has a market cap of $944.23, a P/E ratio of 296.43 and a beta of 1.64.

Cray (NASDAQ:CRAY) last released its quarterly earnings results on Monday, October 30th. The technology company reported ($0.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.16. Cray had a net margin of 2.71% and a return on equity of 0.73%. The firm had revenue of $79.70 million for the quarter, compared to the consensus estimate of $59.67 million. During the same quarter in the previous year, the firm posted ($0.49) EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. analysts forecast that Cray will post -1.14 EPS for the current year.

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In other news, SVP Charles A. Morreale sold 42,680 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $19.37, for a total value of $826,711.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRAY. BlackRock Inc. increased its position in shares of Cray by 141,789.6% in the 1st quarter. BlackRock Inc. now owns 5,024,309 shares of the technology company’s stock worth $110,032,000 after purchasing an additional 5,020,768 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Cray by 361.5% in the 3rd quarter. Victory Capital Management Inc. now owns 904,640 shares of the technology company’s stock worth $17,595,000 after purchasing an additional 708,613 shares during the last quarter. Granite Investment Partners LLC bought a new stake in shares of Cray in the 3rd quarter worth about $11,737,000. NWQ Investment Management Company LLC increased its position in shares of Cray by 66.7% in the 3rd quarter. NWQ Investment Management Company LLC now owns 1,475,548 shares of the technology company’s stock worth $28,699,000 after purchasing an additional 590,325 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Cray by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,959,980 shares of the technology company’s stock worth $36,064,000 after purchasing an additional 326,742 shares during the last quarter. 97.57% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Cray (NASDAQ:CRAY)

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