Cray Inc. (NASDAQ:CRAY) was down 1.5% during trading on Friday . The company traded as low as $30.77 and last traded at $31.00, with a volume of 370,644 shares changing hands. The stock had previously closed at $31.48.

A number of equities research analysts have recently commented on CRAY shares. Stifel Nicolaus reiterated a “buy” rating and set a $49.00 price objective on shares of Cray in a research report on Wednesday, May 25th. TheStreet lowered Cray from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Sidoti upgraded Cray from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a report on Tuesday, April 19th. Craig Hallum lowered Cray from a “buy” rating to a “hold” rating and reduced their target price for the company from $40.00 to $34.00 in a report on Wednesday, May 4th. Finally, Zacks Investment Research lowered Cray from a “hold” rating to a “strong sell” rating in a report on Monday, May 9th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $41.80.

The firm has a 50-day moving average price of $31.82 and a 200-day moving average price of $36.06. The company has a market cap of $1.23 billion and a price-to-earnings ratio of 39.74.

Cray (NASDAQ:CRAY) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.12. The company earned $105.50 million during the quarter, compared to analyst estimates of $100.80 million. During the same period in the prior year, the business earned ($0.28) EPS. The business’s revenue for the quarter was up 32.9% on a year-over-year basis. On average, analysts predict that Cray Inc. will post $1.37 EPS for the current fiscal year.

In related news, Director Stephen C. Kiely sold 2,102 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $31.00, for a total value of $65,162.00. Following the completion of the sale, the director now owns 20,390 shares of the company’s stock, valued at $632,090. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Several hedge funds recently modified their holdings of the stock. TD Asset Management Inc. raised its stake in shares of Cray by 10.7% in the fourth quarter. TD Asset Management Inc. now owns 38,210 shares of the company’s stock worth $1,240,000 after buying an additional 3,700 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Cray by 9.9% in the fourth quarter. Rhumbline Advisers now owns 43,895 shares of the company’s stock worth $1,424,000 after buying an additional 3,940 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in shares of Cray by 2.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 50,330 shares of the company’s stock worth $1,633,000 after buying an additional 1,000 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Cray by 3.1% in the fourth quarter. New York State Common Retirement Fund now owns 55,992 shares of the company’s stock worth $1,817,000 after buying an additional 1,700 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Cray by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 75,654 shares of the company’s stock worth $2,455,000 after buying an additional 1,200 shares in the last quarter.

Cray Inc designs, develops, manufactures, markets and services the high-end of the high performance computing (HPC) market, primarily categories of systems, known as supercomputers and provides storage and data analytics solutions. The Company provides software, system maintenance, support services and engineering services related to supercomputer systems.

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