Research Analysts’ Weekly Ratings Changes for Cray (CRAY)

A number of firms have modified their ratings and price targets on shares of Cray (NASDAQ: CRAY) recently:

  • 5/14/2019 – Cray was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 5/10/2019 – Cray was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Cray Inc. is engaged in designing, developing, manufacturing, marketing and servicing the high performance computing (HPC) market, primarily categories of systems known as supercomputers. The Company’s segments include Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other. The Supercomputing segment includes a suite of supercomputer systems, which are used by engineering centers in universities, government laboratories, and commercial institutions. The Storage and Data Management segment includes Cray Data Warp and Sonexion, as well as other third-party storage products and their ongoing maintenance and system analysts. The Maintenance and Support segment provides ongoing maintenance of Cray supercomputers, big data storage and analytics systems, as well as system analysts. The Engineering Services and Other segment include the Company’s analytics business and Custom Engineering. “
  • 5/8/2019 – Cray had its “buy” rating reaffirmed by analysts at Craig Hallum. They now have a $36.00 price target on the stock, up previously from $31.00.
  • 4/26/2019 – Cray was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 4/26/2019 – Cray was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 4/19/2019 – Cray was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 4/1/2019 – Cray was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 3/26/2019 – Cray was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 3/19/2019 – Cray was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.

Cray stock opened at $29.61 on Thursday. The company has a market capitalization of $1.18 billion, a PE ratio of -20.85 and a beta of 1.34. Cray Inc. has a 1 year low of $18.76 and a 1 year high of $30.56. The company has a current ratio of 3.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.13.

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

In related news, CEO Peter J. Ungaro sold 63,029 shares of Cray stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $22.39, for a total value of $1,411,219.31. Following the completion of the transaction, the chief executive officer now owns 337,532 shares in the company, valued at $7,557,341.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,966,414.31. Following the completion of the transaction, the chief executive officer now owns 322,647 shares of the company’s stock, valued at approximately $7,295,048.67. The disclosure for this sale can be found here. Insiders sold 211,000 shares of company stock valued at $4,975,554 in the last 90 days. Company insiders own 4.00% of the company’s stock.

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

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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