BidaskClub upgraded shares of Cray Inc (NASDAQ:CRAY) from a strong sell rating to a sell rating in a research report report published on Tuesday morning.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC restated a buy rating and issued a $23.00 price target (down previously from $25.00) on shares of Cray in a research report on Wednesday, May 3rd. TheStreet lowered shares of Cray from a c rating to a d+ rating in a research note on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Cray from a sell rating to a hold rating in a research note on Tuesday, July 4th. Finally, ValuEngine upgraded shares of Cray from a strong sell rating to a sell rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $26.50.

Shares of Cray (NASDAQ:CRAY) traded down 0.50% during midday trading on Tuesday, reaching $19.95. 232,538 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $18.43 and a 200-day moving average price of $18.95. Cray has a 52-week low of $16.10 and a 52-week high of $25.32. The stock has a market cap of $801.13 million, a P/E ratio of 297.76 and a beta of 1.62.

Cray (NASDAQ:CRAY) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $0.34. The firm had revenue of $87.10 million for the quarter, compared to the consensus estimate of $60.18 million. Cray had a net margin of 0.47% and a negative return on equity of 1.03%. The company’s revenue for the quarter was down 13.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.29) EPS. Analysts forecast that Cray will post ($1.18) earnings per share for the current year.

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In other Cray news, Director Stephen C. Kiely sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $18.55, for a total transaction of $37,100.00. Following the completion of the sale, the director now owns 20,675 shares in the company, valued at approximately $383,521.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Great West Life Assurance Co. Can raised its stake in shares of Cray by 8.5% in the first quarter. Great West Life Assurance Co. Can now owns 58,297 shares of the technology company’s stock worth $1,276,000 after buying an additional 4,548 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in Cray during the first quarter valued at about $712,000. Wells Fargo & Company MN raised its stake in Cray by 2.9% in the first quarter. Wells Fargo & Company MN now owns 1,665,706 shares of the technology company’s stock valued at $36,479,000 after buying an additional 46,512 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in Cray by 17.8% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,455,000 shares of the technology company’s stock valued at $31,865,000 after buying an additional 220,000 shares during the last quarter. Finally, New Jersey Better Educational Savings Trust raised its stake in Cray by 25.0% in the first quarter. New Jersey Better Educational Savings Trust now owns 20,000 shares of the technology company’s stock valued at $438,000 after buying an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Cray Company Profile

Cray Inc is engaged in designing, developing, manufacturing, marketing and servicing the high performance computing (HPC) market, primarily categories of systems known as supercomputers. The Company’s segments include Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other.

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