Cray (NASDAQ:CRAY) Cut to Strong Sell at BidaskClub

BidaskClub downgraded shares of Cray (NASDAQ:CRAY) from a sell rating to a strong sell rating in a report released on Saturday, BidAskClub reports.

A number of other equities research analysts have also recently weighed in on CRAY. Wells Fargo & Co set a $9.00 price objective on Bausch Health Companies and gave the company a sell rating in a research note on Friday, May 17th. ValuEngine downgraded Zymeworks from a buy rating to a hold rating in a report on Saturday, May 18th. Craig Hallum downgraded Cray from a buy rating to a hold rating in a report on Friday, May 17th. Finally, Zacks Investment Research raised DLH from a sell rating to a hold rating in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Cray currently has an average rating of Hold and an average price target of $33.00.

Shares of Cray stock opened at $34.60 on Friday. Cray has a one year low of $18.76 and a one year high of $36.64. The stock has a market capitalization of $1.43 billion, a P/E ratio of -24.37 and a beta of 0.85. 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’s 50 day moving average is $34.76.

Cray (NASDAQ:CRAY) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.63) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.09). The company 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 business’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.53) EPS. Equities analysts predict that Cray will post -1.77 EPS for the current fiscal year.

In other news, VP Brian C. Henry sold 52,409 shares of the firm’s stock in a transaction dated 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 completion of the sale, the vice president now directly owns 31,475 shares in the company, valued at $996,498.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian C. Henry sold 36,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $28.97, for a total value of $1,042,920.00. Following the sale, the vice president now owns 106,546 shares of the company’s stock, valued at $3,086,637.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,000 shares of company stock worth $2,809,919. Corporate insiders own 4.00% of the company’s stock.

A number of large investors have recently bought and sold shares of CRAY. Quantamental Technologies LLC raised its holdings in shares of Cray by 1,027.8% during the first quarter. Quantamental Technologies LLC now owns 3,767 shares of the technology company’s stock valued at $98,000 after buying an additional 3,433 shares during the last quarter. Neuburgh Advisers LLC grew its position 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 purchasing an additional 1,200 shares in the last quarter. Piedmont Investment Advisors Inc. boosted its stake in shares of Cray by 5.4% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,239 shares of the technology company’s stock valued at $267,000 after buying an additional 529 shares during the period. Gotham Asset Management LLC acquired a new stake in shares of Cray during the 4th quarter valued at $224,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Cray by 86.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,540 shares of the technology company’s stock valued at $275,000 after buying an additional 4,895 shares during the period. Institutional investors and hedge funds own 96.41% 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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