Cray Inc. (NASDAQ:CRAY) saw strong trading volume on Monday . 308,169 shares were traded during trading, a decline of 20% from the previous session’s volume of 386,661 shares.The stock last traded at $31.21 and had previously closed at $31.00.

A number of equities analysts have commented on the stock. Craig Hallum downgraded shares of Cray from a “buy” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $34.00 in a research report on Wednesday, May 4th. Needham & Company LLC downgraded shares of Cray from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. Stifel Nicolaus restated a “buy” rating and set a $49.00 price objective on shares of Cray in a research report on Wednesday, May 25th. TheStreet downgraded shares of Cray from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Finally, Zacks Investment Research upgraded shares of Cray from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 5th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $41.80.

The stock’s 50-day moving average price is $31.76 and its 200 day moving average price is $36.10. The company has a market capitalization of $1.24 billion and a price-to-earnings ratio of 40.01.

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

In other Cray news, Director Stephen C. Kiely sold 2,102 shares of the stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $31.00, for a total transaction of $65,162.00. Following the sale, the director now directly owns 20,390 shares of the company’s stock, valued at $632,090. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Other hedge funds have modified their holdings of the company. Dorsey & Whitney Trust CO LLC boosted 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 during the period. Paradigm Capital Management Inc. NY boosted its stake in shares of Cray by 1.1% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 959,500 shares of the company’s stock worth $31,136,000 after buying an additional 10,000 shares during the period. TD Asset Management Inc. boosted 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 during the period. California State Teachers Retirement System boosted 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 during the period. Finally, Rhumbline Advisers boosted 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 during the period.

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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