Cray’s (CRAY) Buy Rating Reiterated at KeyCorp
CRAY has been the topic of several other research reports. Craig Hallum upgraded shares of Cray from a hold rating to a buy rating in a report on Tuesday, November 21st. ValuEngine upgraded shares of Cray from a sell rating to a hold rating in a report on Tuesday, November 21st. BidaskClub upgraded shares of Cray from a sell rating to a hold rating in a report on Friday, December 15th. Zacks Investment Research upgraded shares of Cray from a hold rating to a buy rating and set a $21.00 price objective on the stock in a report on Wednesday, October 25th. Finally, Wells Fargo & Co assumed coverage on shares of Cray in a report on Tuesday, November 14th. They set an outperform rating and a $26.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. Cray currently has an average rating of Buy and an average price target of $25.80.
Shares of Cray (NASDAQ:CRAY) traded up $0.20 during midday trading on Friday, hitting $25.35. 293,366 shares of the stock traded hands, compared to its average volume of 339,852. Cray has a 52-week low of $16.10 and a 52-week high of $26.65. The firm has a market capitalization of $1,030.00, a price-to-earnings ratio of 101.40 and a beta of 1.69.
Cray (NASDAQ:CRAY) last announced its quarterly earnings data on Monday, October 30th. The technology company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.16. Cray had a net margin of 2.71% and a return on equity of 0.73%. The firm had revenue of $79.70 million for the quarter, compared to analyst estimates of $59.67 million. During the same quarter in the prior year, the business earned ($0.49) earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. equities research analysts anticipate that Cray will post -1.14 earnings per share for the current year.
In related news, SVP Michael Charles Piraino sold 1,100 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $23.00, for a total value of $25,300.00. Following the sale, the senior vice president now owns 43,484 shares in the company, valued at approximately $1,000,132. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Charles A. Morreale sold 42,680 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $19.37, for a total transaction of $826,711.60. The disclosure for this sale can be found here. Insiders sold a total of 74,005 shares of company stock worth $1,534,913 in the last 90 days. 4.00% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of CRAY. Zeke Capital Advisors LLC increased its stake in Cray by 106.0% in the 3rd quarter. Zeke Capital Advisors LLC now owns 23,070 shares of the technology company’s stock valued at $449,000 after buying an additional 11,872 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Cray by 58.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 21,200 shares of the technology company’s stock valued at $412,000 after buying an additional 7,807 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in Cray in the 3rd quarter valued at about $11,737,000. Bank of New York Mellon Corp increased its stake in Cray by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,311,088 shares of the technology company’s stock valued at $25,502,000 after buying an additional 20,811 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Cray by 21.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 196,999 shares of the technology company’s stock valued at $3,625,000 after buying an additional 34,252 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.
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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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