Cray Inc. (NASDAQ:CRAY) saw unusually-high trading volume on Thursday . Approximately 1,466,123 shares were traded during trading, an increase of 75% from the previous session’s volume of 836,923 shares.The stock last traded at $21.12 and had previously closed at $21.81.

CRAY has been the subject of a number of research analyst reports. Stifel Nicolaus cut their price objective on Cray from $49.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday. Pacific Crest initiated coverage on Cray in a research report on Thursday, July 28th. They set an “overweight” rating and a $41.00 price objective for the company. Zacks Investment Research lowered Cray from a “hold” rating to a “strong sell” rating in a research report on Monday, May 9th. KeyCorp cut their price objective on Cray from $41.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Sidoti upgraded Cray from a “neutral” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Tuesday, April 19th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $39.43.

The company has a 50-day moving average of $30.02 and a 200-day moving average of $35.83. The company has a market capitalization of $857.62 million and a P/E ratio of 66.76.

Cray (NASDAQ:CRAY) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.06. During the same period in the prior year, the business posted $0.30 EPS. The business had revenue of $100.20 million for the quarter, compared to analyst estimates of $101.36 million. The business’s revenue for the quarter was down 46.2% on a year-over-year basis. Equities research analysts expect that Cray Inc. will post $0.45 EPS for the current year.

Other hedge funds and institutional investors have recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC increased its position 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 increased 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 worth $31,136,000 after buying an additional 10,000 shares during the period. Rhumbline Advisers increased its position 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. Finally, New York State Common Retirement Fund increased its position 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.

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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