According to Zacks, “Cray Inc., formerly Tera Computer Company, designs, builds and sells high-performance vector processor and general-purpose parallel computer systems. The company has leading edge technology, multiple product platforms, annual revenues, nearly 900 employees, major manufacturing and service capabilities, and extensive global customer relationships. (PRESS RELEASE) “
CRAY has been the subject of a number of other reports. KeyCorp cut their target price on Cray from $41.00 to $35.00 and set an overweight rating for the company in a research report on Wednesday, August 3rd. Stifel Nicolaus cut their target price on Cray from $49.00 to $40.00 and set a buy rating for the company in a research report on Wednesday, August 3rd. Finally, Pacific Crest started coverage on Cray in a research report on Thursday, July 28th. They issued an overweight rating and a $41.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $39.43.
Shares of Cray (NASDAQ:CRAY) opened at 22.55 on Tuesday. The stock has a 50 day moving average price of $23.15 and a 200-day moving average price of $30.55. The stock has a market cap of $897.74 million, a P/E ratio of 71.59 and a beta of 1.39. Cray has a 12 month low of $20.27 and a 12 month high of $43.79.
Cray (NASDAQ:CRAY) last released its earnings results on Tuesday, August 2nd. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.06. The firm earned $100.20 million during the quarter, compared to analyst estimates of $101.36 million. Cray had a return on equity of 5.72% and a net margin of 1.96%. The business’s revenue for the quarter was down 46.2% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. On average, analysts forecast that Cray will post $0.45 EPS for the current fiscal year.
In other news, SVP Michael Charles Piraino sold 15,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $21.97, for a total value of $329,550.00. Following the completion of the sale, the senior vice president now owns 63,937 shares in the company, valued at $1,404,695.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.00% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. raised its stake in Cray by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,000,267 shares of the company’s stock worth $41,921,000 after buying an additional 5,584 shares during the last quarter. Aperio Group LLC acquired a new stake in Cray during the first quarter worth about $252,000. Texas Permanent School Fund acquired a new stake in Cray during the first quarter worth about $1,363,000. Systematic Financial Management LP raised its stake in Cray by 51.4% in the second quarter. Systematic Financial Management LP now owns 58,555 shares of the company’s stock worth $1,751,000 after buying an additional 19,875 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in Cray by 608.7% in the first quarter. Meeder Asset Management Inc. now owns 7,101 shares of the company’s stock worth $298,000 after buying an additional 6,099 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.
Cray Inc designs, develops, manufactures, markets and services the high-end of the high performance computing (HPC) market, primarily categories of systems, known as supercomputers and provides storage and data analytics solutions. The Company provides software, system maintenance, support services and engineering services related to supercomputer systems.
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