Cray Inc. (NASDAQ:CRAY) shares traded up 3.9% on Friday . The stock traded as high as $22.72 and last traded at $22.16, with a volume of 964,729 shares. The stock had previously closed at $21.33.

Several research analysts have recently weighed in on the company. Craig Hallum cut Cray from a “buy” rating to a “hold” rating and decreased their price target for the stock from $40.00 to $34.00 in a research note on Wednesday, May 4th. Needham & Company LLC cut Cray from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. KeyCorp decreased their price target on Cray from $41.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, August 3rd. Stifel Nicolaus decreased their price target on Cray from $49.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Finally, Pacific Crest assumed coverage on Cray in a research note on Thursday, July 28th. They issued an “overweight” rating and a $41.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $39.43.

The company has a market capitalization of $882.21 million and a price-to-earnings ratio of 70.35. The stock’s 50 day moving average is $28.42 and its 200-day moving average is $35.29.

Cray (NASDAQ:CRAY) last announced its earnings results on Tuesday, August 2nd. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by $0.06. The business earned $100.20 million during the quarter, compared to analyst estimates of $101.36 million. During the same quarter in the previous year, the business earned $0.30 earnings per share. The company’s quarterly revenue was down 46.2% on a year-over-year basis. On average, equities research analysts expect that Cray Inc. will post $0.45 EPS for the current fiscal year.

An institutional investor recently raised its position in Cray stock. Dorsey & Whitney Trust CO LLC increased its stake in shares of Cray Inc. (NASDAQ:CRAY) by 2.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 50,330 shares of the company’s stock after buying an additional 1,000 shares during the period. Dorsey & Whitney Trust CO LLC owned 0.13% of Cray worth $1,633,000 at the end of the most recent 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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