Cray Inc (CRAY) Holdings Cut by Wells Fargo & Company MN
Wells Fargo & Company MN lowered its stake in shares of Cray Inc (NASDAQ:CRAY) by 26.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,224,225 shares of the technology company’s stock after selling 441,481 shares during the quarter. Wells Fargo & Company MN owned about 3.05% of Cray worth $22,526,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Pinnacle Associates Ltd. boosted its position in Cray by 4.3% during the second quarter. Pinnacle Associates Ltd. now owns 18,200 shares of the technology company’s stock worth $335,000 after purchasing an additional 750 shares during the period. Oppenheimer & Co. Inc. boosted its position in Cray by 13.1% during the second quarter. Oppenheimer & Co. Inc. now owns 90,500 shares of the technology company’s stock worth $1,665,000 after purchasing an additional 10,500 shares during the period. Royce & Associates LP boosted its position in Cray by 24.0% during the second quarter. Royce & Associates LP now owns 510,632 shares of the technology company’s stock worth $9,396,000 after purchasing an additional 98,700 shares during the period. American Century Companies Inc. boosted its position in Cray by 45.6% during the second quarter. American Century Companies Inc. now owns 932,303 shares of the technology company’s stock worth $17,154,000 after purchasing an additional 291,869 shares during the period. Finally, Victory Capital Management Inc. bought a new stake in Cray during the second quarter worth approximately $3,607,000. 96.23% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on CRAY. BidaskClub raised Cray from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 target price on shares of Cray in a research report on Wednesday, August 16th. Zacks Investment Research raised Cray from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, ValuEngine raised Cray from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $24.50.
Shares of Cray Inc (NASDAQ CRAY) opened at 18.60 on Monday. The company has a market capitalization of $746.92 million, a PE ratio of 277.61 and a beta of 1.66. Cray Inc has a 52-week low of $16.10 and a 52-week high of $25.32. The stock has a 50 day moving average price of $19.13 and a 200 day moving average price of $18.94.
Cray (NASDAQ:CRAY) last issued its earnings results on Thursday, July 27th. The technology company reported ($0.20) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.34. Cray had a negative return on equity of 1.03% and a net margin of 0.47%. The company had revenue of $87.10 million during the quarter, compared to the consensus estimate of $60.18 million. During the same period in the previous year, the company posted ($0.29) EPS. The firm’s revenue for the quarter was down 13.1% compared to the same quarter last year. On average, analysts predict that Cray Inc will post ($1.13) earnings per share for the current fiscal year.
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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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