Cray (NASDAQ:CRAY) Cut to Strong Sell at BidaskClub

BidaskClub cut shares of Cray (NASDAQ:CRAY) from a sell rating to a strong sell rating in a research report released on Saturday morning, BidAskClub reports.

A number of other brokerages also recently weighed in on CRAY. Zacks Investment Research upgraded shares of DLH from a sell rating to a hold rating in a research report on Tuesday, July 9th. Wells Fargo & Co set a $9.00 price objective on shares of Bausch Health Companies and gave the stock a sell rating in a research report on Friday, May 17th. ValuEngine downgraded shares of Zymeworks from a buy rating to a hold rating in a research report on Saturday, May 18th. Finally, Craig Hallum downgraded shares of Cray from a buy rating to a hold rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $33.00.

Shares of CRAY opened at $34.63 on Friday. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -24.39 and a beta of 0.85. The company has a quick ratio of 2.62, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. Cray has a 1-year low of $18.76 and a 1-year high of $36.64. The firm’s fifty day moving average is $34.77.

Cray (NASDAQ:CRAY) last posted its earnings results on Tuesday, May 7th. The technology company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.09). The business had revenue of $71.55 million for the quarter, compared to analyst estimates of $70.67 million. Cray had a negative net margin of 16.99% and a negative return on equity of 17.89%. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.53) earnings per share. On average, equities research analysts forecast that Cray will post -1.77 EPS for the current fiscal year.

In related news, CFO Brian C. Henry sold 3,591 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $30.00, for a total transaction of $107,730.00. Following the completion of the transaction, the chief financial officer now owns 66,955 shares in the company, valued at approximately $2,008,650. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Brian C. Henry sold 52,409 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $31.66, for a total transaction of $1,659,268.94. Following the transaction, the vice president now owns 31,475 shares of the company’s stock, valued at approximately $996,498.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,000 shares of company stock valued at $2,809,919. Insiders own 4.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC grew its stake in Cray by 1,027.8% during the 1st quarter. Quantamental Technologies LLC now owns 3,767 shares of the technology company’s stock valued at $98,000 after acquiring an additional 3,433 shares in the last quarter. Neuburgh Advisers LLC grew its stake in Cray by 32.9% during the 4th quarter. Neuburgh Advisers LLC now owns 4,848 shares of the technology company’s stock valued at $105,000 after acquiring an additional 1,200 shares in the last quarter. Piedmont Investment Advisors Inc. grew its stake in Cray by 5.4% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,239 shares of the technology company’s stock valued at $267,000 after acquiring an additional 529 shares in the last quarter. Gotham Asset Management LLC purchased a new stake in Cray during the 4th quarter valued at about $224,000. Finally, BNP Paribas Arbitrage SA grew its stake in Cray by 86.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,540 shares of the technology company’s stock valued at $275,000 after acquiring an additional 4,895 shares in the last quarter. Hedge funds and other institutional investors own 96.41% of the company’s stock.

About Cray

Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing products for high-performance computing, data analytics, and AI markets. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.

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