Cray Inc (CRAY) Raised to Buy at Craig Hallum
Cray Inc (NASDAQ:CRAY) was upgraded by equities research analysts at Craig Hallum from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.
Several other brokerages also recently commented on CRAY. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 target price on shares of Cray in a report on Wednesday, August 16th. Zacks Investment Research downgraded Cray from a “buy” rating to a “hold” rating in a report on Thursday, October 19th. Wells Fargo & Company started coverage on Cray in a report on Tuesday, November 14th. They issued an “outperform” rating and a $26.00 target price on the stock. BidaskClub downgraded Cray from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Finally, KeyCorp reissued a “buy” rating and issued a $24.00 target price on shares of Cray in a report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Cray has an average rating of “Hold” and an average target price of $24.40.
Cray (NASDAQ:CRAY) opened at $21.35 on Tuesday. The company has a market capitalization of $839.09, a P/E ratio of 296.43 and a beta of 1.64. Cray has a 1-year low of $16.10 and a 1-year high of $22.55.
Cray (NASDAQ:CRAY) last announced its earnings results on Monday, October 30th. The technology company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.16. The business had revenue of $79.70 million for the quarter, compared to the consensus estimate of $59.67 million. Cray had a return on equity of 0.73% and a net margin of 2.71%. Cray’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.49) EPS. equities research analysts anticipate that Cray will post -1.14 EPS for the current year.
In related news, SVP Charles A. Morreale sold 42,680 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $19.37, for a total value of $826,711.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CRAY. BlackRock Inc. raised its position in Cray by 141,789.6% in the 1st quarter. BlackRock Inc. now owns 5,024,309 shares of the technology company’s stock worth $110,032,000 after purchasing an additional 5,020,768 shares during the last quarter. Victory Capital Management Inc. raised its position in Cray by 361.5% in the 3rd quarter. Victory Capital Management Inc. now owns 904,640 shares of the technology company’s stock worth $17,595,000 after purchasing an additional 708,613 shares during the last quarter. Granite Investment Partners LLC bought a new position in Cray in the 3rd quarter worth approximately $11,737,000. NWQ Investment Management Company LLC raised its position in Cray by 66.7% in the 3rd quarter. NWQ Investment Management Company LLC now owns 1,475,548 shares of the technology company’s stock worth $28,699,000 after purchasing an additional 590,325 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Cray by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,959,980 shares of the technology company’s stock worth $36,064,000 after purchasing an additional 326,742 shares during the last quarter. Hedge funds and other institutional investors own 97.57% of the company’s stock.
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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