Cray (CRAY) Sees Strong Trading Volume

Cray Inc. (NASDAQ:CRAY) saw unusually-strong trading volume on Thursday . Approximately 878,436 shares were traded during mid-day trading, an increase of 163% from the previous session’s volume of 333,706 shares.The stock last traded at $29.81 and had previously closed at $29.61.

Several research analysts recently commented on CRAY shares. BidaskClub raised shares of Cray from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 19th. ValuEngine downgraded shares of Cray from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Craig Hallum reaffirmed a “buy” rating and issued a $36.00 price target (up previously from $31.00) on shares of Cray in a research note on Wednesday, May 8th. TheStreet raised shares of Cray from a “d+” rating to a “c-” rating in a research note on Thursday, March 14th. Finally, KeyCorp reduced their price target on shares of Cray from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $33.00.

The company has a market capitalization of $1.50 billion, a P/E ratio of -25.72 and a beta of 1.34. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.33.

Cray (NASDAQ:CRAY) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by ($0.09). Cray had a negative return on equity of 17.89% and a negative net margin of 16.99%. The company had revenue of $71.55 million during the quarter, compared to analysts’ expectations of $70.67 million. During the same period in the prior year, the business earned ($0.53) EPS. The company’s quarterly revenue was down 10.1% on a year-over-year basis. On average, analysts predict that Cray Inc. will post -1.77 earnings per share for the current year.

In other Cray news, SVP Michael Charles Piraino sold 25,000 shares of the stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $22.20, for a total transaction of $555,000.00. Following the transaction, the senior vice president now directly owns 63,230 shares in the company, valued at approximately $1,403,706. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Peter J. Ungaro sold 86,971 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $22.61, for a total transaction of $1,966,414.31. Following the transaction, the chief executive officer now owns 322,647 shares in the company, valued at $7,295,048.67. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 214,591 shares of company stock worth $5,083,284. 4.00% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cray by 83.9% during 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 in the last quarter. Quantamental Technologies LLC grew its holdings in Cray by 1,027.8% during 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 in the last quarter. Neuburgh Advisers LLC grew its holdings in Cray by 32.9% during 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 in the last quarter. Acadian Asset Management LLC bought a new position in Cray during the 1st quarter worth about $105,000. Finally, Actinver Wealth Management Inc. bought a new position in Cray during the 4th quarter worth about $206,000. Institutional investors own 99.08% of the company’s stock.

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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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