Zacks Investment Research upgraded shares of Cray (NASDAQ:CRAY) from a sell rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “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. The Supercomputing segment includes a suite of supercomputer systems, which are used by engineering centers in universities, government laboratories, and commercial institutions. The Storage and Data Management segment includes Cray Data Warp and Sonexion, as well as other third-party storage products and their ongoing maintenance and system analysts. The Maintenance and Support segment provides ongoing maintenance of Cray supercomputers, big data storage and analytics systems, as well as system analysts. The Engineering Services and Other segment include the Company’s analytics business and Custom Engineering. “
Several other brokerages also recently commented on CRAY. BidaskClub upgraded Cray from a hold rating to a buy rating in a report on Saturday, November 17th. ValuEngine upgraded Cray from a buy rating to a strong-buy rating in a report on Thursday, November 1st. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Cray has a consensus rating of Buy and a consensus price target of $31.00.
Cray (NASDAQ:CRAY) last released its quarterly earnings data on Tuesday, October 30th. The technology company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.03). The firm had revenue of $92.80 million during the quarter, compared to analysts’ expectations of $90.58 million. Cray had a negative return on equity of 10.56% and a negative net margin of 33.95%. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.33) earnings per share. As a group, analysts predict that Cray will post -1.5 EPS for the current year.
In related news, VP Brian C. Henry sold 18,667 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $24.19, for a total transaction of $451,554.73. Following the sale, the vice president now directly owns 87,939 shares in the company, valued at approximately $2,127,244.41. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Michael Charles Piraino sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $25.09, for a total value of $501,800.00. Following the sale, the senior vice president now owns 68,230 shares in the company, valued at $1,711,890.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,185 shares of company stock worth $1,748,654. Company insiders own 4.10% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Contravisory Investment Management Inc. purchased a new stake in shares of Cray during the 3rd quarter valued at about $114,000. Bank of Montreal Can raised its holdings in shares of Cray by 1,179.7% during the 3rd quarter. Bank of Montreal Can now owns 6,232 shares of the technology company’s stock valued at $134,000 after buying an additional 5,745 shares during the period. Teacher Retirement System of Texas purchased a new stake in shares of Cray during the 2nd quarter valued at about $202,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Cray during the 2nd quarter valued at about $212,000. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Cray during the 2nd quarter valued at about $230,000. Institutional investors and hedge funds own 97.40% of the company’s stock.
Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing systems, and data analytics and artificial intelligence solutions. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.
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