Zacks Investment Research upgraded shares of Cray Inc (NASDAQ:CRAY) from a hold rating to a buy rating in a research report report published on Wednesday, October 25th. Zacks Investment Research currently has $21.00 price target on the technology company’s stock.
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 equities analysts have also issued reports on the stock. Stifel Nicolaus reiterated a buy rating and set a $26.00 target price on shares of Cray in a report on Wednesday, August 16th. BidaskClub lowered shares of Cray from a sell rating to a strong sell rating in a report on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $24.00.
Shares of Cray (CRAY) traded up $0.25 on Wednesday, reaching $19.25. 124,000 shares of the company’s stock traded hands, compared to its average volume of 304,308. Cray has a twelve month low of $16.10 and a twelve month high of $22.55. The stock has a market capitalization of $778.43, a price-to-earnings ratio of 275.00 and a beta of 1.64.
Cray (NASDAQ:CRAY) last issued its quarterly earnings data on Monday, October 30th. The technology company reported ($0.33) EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $79.70 million during the quarter, compared to analyst estimates of $59.67 million. During the same period last year, the business posted ($0.49) earnings per share. Cray’s quarterly revenue was up 2.9% compared to the same quarter last year. equities research analysts forecast that Cray will post -1.19 EPS for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in CRAY. BlackRock Inc. raised its holdings 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 acquiring an additional 5,020,768 shares during the last quarter. Victory Capital Management Inc. raised its holdings 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 acquiring an additional 708,613 shares during the last quarter. Granite Investment Partners LLC purchased a new position in Cray in the 3rd quarter worth approximately $11,737,000. Dimensional Fund Advisors LP raised its holdings 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 acquiring an additional 326,742 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Cray by 45.6% in the 2nd quarter. American Century Companies Inc. now owns 932,303 shares of the technology company’s stock worth $17,154,000 after acquiring an additional 291,869 shares during the last quarter. Institutional investors own 97.80% 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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