Cray Inc. (CRAY) Given Average Rating of “Buy” by Analysts

Cray Inc. (NASDAQ:CRAY) has been given a consensus recommendation of “Buy” by the nine ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $26.80.

Several brokerages recently issued reports on CRAY. Craig Hallum raised Cray from a “hold” rating to a “buy” rating in a research note on Tuesday, November 21st. ValuEngine raised Cray from a “sell” rating to a “hold” rating in a research note on Tuesday, November 21st. KeyCorp reaffirmed a “buy” rating and set a $24.00 price target on shares of Cray in a research note on Wednesday, November 1st. BidaskClub downgraded Cray from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. Finally, Zacks Investment Research raised Cray from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Tuesday, January 23rd.

Shares of Cray (CRAY) opened at $22.90 on Tuesday. The stock has a market capitalization of $926.03, a PE ratio of 91.60 and a beta of 1.53. Cray has a one year low of $16.50 and a one year high of $26.65.

In other news, SVP Michael Charles Piraino sold 30,000 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $22.61, for a total transaction of $678,300.00. Following the transaction, the senior vice president now owns 72,384 shares of the company’s stock, valued at approximately $1,636,602.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Charles A. Morreale sold 42,680 shares of the 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 disclosure for this sale can be found here. Insiders have sold a total of 73,780 shares of company stock valued at $1,530,312 over the last ninety days. Company insiders own 4.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio acquired a new position in shares of Cray during the 3rd quarter valued at about $101,000. SG Americas Securities LLC acquired a new position in shares of Cray during the 3rd quarter valued at about $124,000. Municipal Employees Retirement System of Michigan increased its holdings in shares of Cray by 57.2% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 15,120 shares of the technology company’s stock valued at $294,000 after acquiring an additional 5,500 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Cray during the 4th quarter valued at about $331,000. Finally, Levin Capital Strategies L.P. increased its holdings in shares of Cray by 31.1% during the 4th quarter. Levin Capital Strategies L.P. now owns 15,082 shares of the technology company’s stock valued at $365,000 after acquiring an additional 3,580 shares during the last quarter. 96.24% of the stock is currently owned by institutional investors and hedge funds.

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About Cray

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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