Cray (CRAY) Upgraded at ValuEngine

ValuEngine upgraded shares of Cray (NASDAQ:CRAY) from a buy rating to a strong-buy rating in a research report released on Saturday, ValuEngine reports.

A number of other analysts have also issued reports on CRAY. Zacks Investment Research lowered shares of Cray from a hold rating to a sell rating in a research note on Friday, May 10th. BidaskClub lowered shares of Cray from a strong-buy rating to a buy rating in a research note on Friday, April 26th. Wells Fargo & Co lowered shares of Cray from an outperform rating to a market perform rating in a research note on Friday. TheStreet upgraded shares of Cray from a d+ rating to a c- rating in a research note on Thursday, March 14th. Finally, Craig Hallum lowered shares of Cray from a buy rating to a hold rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Cray has a consensus rating of Buy and a consensus target price of $33.00.

Shares of NASDAQ:CRAY opened at $35.60 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.33. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -25.07 and a beta of 1.34. Cray has a 1 year low of $18.76 and a 1 year high of $36.64.

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

In related news, CEO Peter J. Ungaro sold 86,971 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $22.61, for a total transaction of $1,966,414.31. Following the sale, the chief executive officer now directly owns 322,647 shares in the company, valued at $7,295,048.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian C. Henry sold 52,409 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $31.66, for a total transaction of $1,659,268.94. Following the sale, the vice president now owns 31,475 shares in the company, valued at $996,498.50. The disclosure for this sale can be found here. Insiders have sold 267,000 shares of company stock worth $6,742,553 over the last 90 days. Insiders own 4.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Cray by 98.7% during the first quarter. Goldman Sachs Group Inc. now owns 342,721 shares of the technology company’s stock worth $8,928,000 after purchasing an additional 170,253 shares during the period. Ellington Management Group LLC lifted its holdings in shares of Cray by 56.0% during the first quarter. Ellington Management Group LLC now owns 19,500 shares of the technology company’s stock worth $508,000 after purchasing an additional 7,000 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Cray by 7.1% during the first quarter. Wellington Management Group LLP now owns 1,238,690 shares of the technology company’s stock worth $32,268,000 after purchasing an additional 81,994 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Cray by 12.8% during the first quarter. Voya Investment Management LLC now owns 952,129 shares of the technology company’s stock worth $24,803,000 after purchasing an additional 108,057 shares during the period. Finally, Geode Capital Management LLC raised its position in Cray by 6.2% in the first quarter. Geode Capital Management LLC now owns 547,329 shares of the technology company’s stock worth $14,257,000 after acquiring an additional 31,900 shares in the last quarter. Hedge funds and other institutional investors own 99.08% of the company’s stock.

About 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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