Harvest Management LLC Takes Position in Cray Inc. (NASDAQ:CRAY)

Harvest Management LLC acquired a new stake in shares of Cray Inc. (NASDAQ:CRAY) in the 2nd quarter, HoldingsChannel reports. The fund acquired 22,000 shares of the technology company’s stock, valued at approximately $766,000. Cray comprises about 1.1% of Harvest Management LLC’s holdings, making the stock its 16th biggest holding.

Several other large investors have also recently modified their holdings of the company. State of New Jersey Common Pension Fund D raised its stake in shares of Cray by 4.6% during the second quarter. State of New Jersey Common Pension Fund D now owns 1,568,607 shares of the technology company’s stock valued at $54,619,000 after acquiring an additional 68,607 shares during the last quarter. Turiya Advisors Asia Ltd raised its stake in shares of Cray by 30.2% during the first quarter. Turiya Advisors Asia Ltd now owns 916,359 shares of the technology company’s stock valued at $23,871,000 after acquiring an additional 212,309 shares during the last quarter. Granite Investment Partners LLC raised its stake in shares of Cray by 14.9% during the first quarter. Granite Investment Partners LLC now owns 750,610 shares of the technology company’s stock valued at $19,553,000 after acquiring an additional 97,108 shares during the last quarter. Emerald Advisers LLC raised its stake in shares of Cray by 17.4% during the first quarter. Emerald Advisers LLC now owns 695,563 shares of the technology company’s stock valued at $18,119,000 after acquiring an additional 103,070 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its stake in shares of Cray by 15.6% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 624,305 shares of the technology company’s stock valued at $16,263,000 after acquiring an additional 84,070 shares during the last quarter. 96.70% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently commented on CRAY. BidaskClub raised shares of Cray from a “strong sell” rating to a “sell” rating in a research note on Thursday. Wells Fargo & Co cut shares of Cray from an “outperform” rating to a “market perform” rating in a research report on Friday, May 17th. Zacks Investment Research upgraded shares of Cray from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Craig Hallum cut shares of Cray from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Finally, ValuEngine upgraded shares of Cray from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Shares of NASDAQ CRAY opened at $34.71 on Friday. Cray Inc. has a 1 year low of $18.76 and a 1 year high of $36.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.62. The company’s 50-day moving average is $34.66. The stock has a market capitalization of $1.43 billion, a PE ratio of -24.44 and a beta of 0.85.

Cray (NASDAQ:CRAY) last announced its quarterly earnings results on Friday, August 2nd. The technology company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.12). Cray had a negative net margin of 16.99% and a negative return on equity of 17.89%. The company had revenue of $68.70 million for the quarter, compared to analysts’ expectations of $72.15 million. On average, equities analysts anticipate that Cray Inc. will post -1.77 EPS for the current year.

In other Cray news, VP Brian C. Henry sold 36,000 shares of the company’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 in the company, valued at $3,086,637.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brian C. Henry sold 52,409 shares of the company’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 owns 31,475 shares in the company, valued at approximately $996,498.50. The disclosure for this sale can be found here. Insiders have sold 92,000 shares of company stock worth $2,809,919 in the last quarter. 4.00% of the stock is owned by corporate insiders.

Cray Company Profile

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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Institutional Ownership by Quarter for Cray (NASDAQ:CRAY)

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