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.
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.
WARNING: “Cray (CRAY) Sees Unusually-High Trading Volume” was posted by Baseball Daily News and is the property of of Baseball Daily News. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright laws. The correct version of this article can be read at https://www.baseballdailydigest.com/news/2019/05/10/cray-cray-sees-unusually-high-trading-volume.html.
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.
See Also: What is the float in trading stocks?
Receive News & Ratings for Cray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cray and related companies with MarketBeat.com's FREE daily email newsletter.