Cray Inc (CRAY) Raised to “Buy” at Craig Hallum
Craig Hallum upgraded shares of Cray Inc (NASDAQ:CRAY) from a hold rating to a buy rating in a report issued on Tuesday morning, Marketbeat reports.
A number of other analysts also recently weighed in on CRAY. Zacks Investment Research downgraded shares of Cray from a strong-buy rating to a hold rating in a report on Friday, November 17th. Stifel Nicolaus restated a buy rating and issued a $26.00 target price on shares of Cray in a report on Wednesday, August 16th. BidaskClub upgraded shares of Cray from a strong sell rating to a sell rating in a report on Tuesday, August 1st. Wells Fargo & Company assumed coverage on shares of Cray in a report on Tuesday, November 14th. They issued an outperform rating and a $26.00 target price on the stock. Finally, KeyCorp restated a buy rating and issued a $24.00 target price on shares of Cray in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $24.40.
Shares of Cray (NASDAQ:CRAY) opened at $22.80 on Tuesday. The company has a market cap of $940.18, a price-to-earnings ratio of 332.14 and a beta of 1.64. Cray has a one year low of $16.10 and a one year high of $24.25.
Cray (NASDAQ:CRAY) last announced its quarterly 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 analysts’ expectations of $59.67 million. Cray had a net margin of 2.71% and a return on equity of 0.73%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.49) EPS. analysts expect that Cray will post -1.14 earnings per share for the current year.
In other news, SVP Charles A. Morreale sold 42,680 shares of the business’s stock in a transaction dated 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 filing with the SEC, which is available through the SEC website. Insiders own 4.00% of the company’s stock.
A number of large investors have recently modified their holdings of CRAY. UBS Asset Management Americas Inc. bought a new position in Cray during the 1st quarter valued at about $287,000. Parametric Portfolio Associates LLC grew its holdings in Cray by 81.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 43,160 shares of the technology company’s stock valued at $945,000 after purchasing an additional 19,347 shares during the last quarter. Vanguard Group Inc. grew its holdings in Cray by 8.7% during the 1st quarter. Vanguard Group Inc. now owns 3,501,431 shares of the technology company’s stock valued at $76,682,000 after purchasing an additional 279,435 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cray by 9.0% during the 1st quarter. Geode Capital Management LLC now owns 384,336 shares of the technology company’s stock valued at $8,416,000 after purchasing an additional 31,663 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Cray by 17.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,633,238 shares of the technology company’s stock valued at $35,768,000 after purchasing an additional 247,062 shares during the last quarter. 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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