Cray Inc. (NASDAQ:CRAY) shares shot up 3.3% on Thursday . The stock traded as high as $31.99 and last traded at $31.65, with a volume of 208,112 shares traded. The stock had previously closed at $30.64.

Several research firms have weighed in on CRAY. Pacific Crest began coverage on Cray in a research report on Thursday. They set an “overweight” rating and a $41.00 price objective on the stock. Zacks Investment Research upgraded Cray from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 5th. 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 cut Cray from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Finally, Craig Hallum cut Cray from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $40.00 to $34.00 in a research report on Wednesday, May 4th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $41.67.

The firm has a market cap of $1.26 billion and a price-to-earnings ratio of 40.79. The firm’s 50 day moving average is $30.98 and its 200-day moving average is $35.99.

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

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

Other hedge funds and institutional investors have recently made changes to their positions in the company. Paradigm Capital Management Inc. NY raised its position 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 valued at $31,136,000 after buying an additional 10,000 shares in the last quarter. Rhumbline Advisers raised its position in 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. TD Asset Management Inc. raised its position in 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. New York State Common Retirement Fund raised its position in 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 position in 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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