Cray Inc. (NASDAQ:CRAY) shares saw strong trading volume on Monday . 308,169 shares changed hands during mid-day 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 analysts have commented on the stock. Zacks Investment Research upgraded shares of Cray from a “sell” rating to a “hold” rating in a research note on Wednesday, April 13th. Sidoti upgraded shares of Cray from a “neutral” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Tuesday, April 19th. Needham & Company LLC cut shares of Cray from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Craig Hallum cut shares of Cray from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $34.00 in a research note on Wednesday, May 4th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $49.00 price target on shares of Cray in a research note on Wednesday, May 25th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $41.80.

The company has a market cap of $1.20 billion and a P/E ratio of 38.88. The firm’s 50-day moving average is $31.71 and its 200 day moving average is $36.05.

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

In other Cray news, Director Stephen C. Kiely sold 2,102 shares of the business’s 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 completion of the sale, the director now owns 20,390 shares in the company, valued at approximately $632,090. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Other hedge funds have made changes to their positions in the company. 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 during the period. 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 during the period. 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 during the period. 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 during the period. 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 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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