Cray (CRAY) Sees Unusually-High Trading Volume

Cray Inc. (NASDAQ:CRAY) saw strong trading volume on Wednesday . 390,465 shares changed hands during trading, an increase of 24% from the previous session’s volume of 313,873 shares.The stock last traded at $28.59 and had previously closed at $29.97.

A number of research analysts have recently weighed in on the stock. BidaskClub raised shares of Cray from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 19th. KeyCorp dropped their price objective on shares of Cray from $33.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, February 13th. TheStreet raised shares of Cray from a “d+” rating to a “c-” rating in a research note on Thursday, March 14th. Craig Hallum reissued a “buy” rating and set a $36.00 price objective (up from $31.00) on shares of Cray in a research note on Wednesday. Finally, ValuEngine raised shares of Cray from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $33.00.

The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -20.20 and a beta of 1.34.

Cray (NASDAQ:CRAY) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.63) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.09). Cray had a negative return on equity of 15.97% and a negative net margin of 15.72%. The business had revenue of $71.55 million for the quarter, compared to analysts’ expectations of $70.67 million. During the same period last year, the business earned ($0.53) earnings per share. The company’s revenue for the quarter was down 10.1% on a year-over-year basis. Equities analysts anticipate that Cray Inc. will post -1.33 EPS for the current fiscal year.

In other Cray news, CEO Peter J. Ungaro sold 86,971 shares of Cray stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $22.61, for a total value of $1,966,414.31. Following the completion of the sale, the chief executive officer now directly owns 322,647 shares of the company’s stock, valued at approximately $7,295,048.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Peter J. Ungaro sold 63,029 shares of Cray stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $22.39, for a total transaction of $1,411,219.31. Following the completion of the sale, the chief executive officer now directly owns 337,532 shares of the company’s stock, valued at $7,557,341.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 175,000 shares of company stock valued at $3,932,634. Corporate insiders own 4.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Cray by 83.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,240 shares of the technology company’s stock worth $70,000 after acquiring an additional 1,478 shares during the period. Quantamental Technologies LLC grew its stake in Cray by 1,027.8% in the 1st quarter. Quantamental Technologies LLC now owns 3,767 shares of the technology company’s stock worth $98,000 after acquiring an additional 3,433 shares during the period. Neuburgh Advisers LLC grew its stake in Cray by 32.9% in the 4th quarter. Neuburgh Advisers LLC now owns 4,848 shares of the technology company’s stock worth $105,000 after acquiring an additional 1,200 shares during the period. Acadian Asset Management LLC purchased a new stake in Cray in the 1st quarter worth approximately $105,000. Finally, Actinver Wealth Management Inc. purchased a new stake in Cray in the 4th quarter worth approximately $206,000. 98.95% of the stock is owned by hedge funds and other institutional investors.

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About Cray (NASDAQ: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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