Cray’s (CRAY) “Buy” Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reaffirmed their buy rating on shares of Cray Inc (NASDAQ:CRAY) in a research report sent to investors on Wednesday. They currently have a $26.00 price target on the technology company’s stock.

Other research analysts have also recently issued reports about the company. BidaskClub upgraded Cray from a strong sell rating to a sell rating in a report on Tuesday, August 1st. Zacks Investment Research cut Cray from a hold rating to a sell rating in a report on Tuesday, May 9th. TheStreet cut Cray from a c rating to a d+ rating in a report on Wednesday, May 3rd. Needham & Company LLC restated a buy rating and set a $23.00 target price (down from $25.00) on shares of Cray in a report on Wednesday, May 3rd. Finally, ValuEngine upgraded Cray from a strong sell rating to a sell rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. Cray has a consensus rating of Hold and an average target price of $24.50.

Cray (CRAY) traded down 3.96% during midday trading on Wednesday, hitting $18.20. The company had a trading volume of 260,770 shares. The company has a 50 day moving average price of $19.03 and a 200 day moving average price of $19.15. The firm has a market capitalization of $730.86 million, a P/E ratio of 271.64 and a beta of 1.62. Cray has a 1-year low of $16.10 and a 1-year high of $25.32.

Cray (NASDAQ:CRAY) last issued its earnings results on Thursday, July 27th. The technology company reported ($0.20) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.34. The business had revenue of $87.10 million for the quarter, compared to analysts’ expectations of $60.18 million. Cray had a negative return on equity of 1.03% and a net margin of 0.47%. The business’s revenue for the quarter was down 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.29) EPS. Equities research analysts forecast that Cray will post ($1.13) earnings per share for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Cray by 141,789.6% in the first quarter. BlackRock Inc. now owns 5,024,309 shares of the technology company’s stock valued at $110,032,000 after buying an additional 5,020,768 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Cray by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,959,980 shares of the technology company’s stock valued at $36,064,000 after buying an additional 326,742 shares during the last quarter. American Century Companies Inc. raised its stake in Cray by 45.6% in the second quarter. American Century Companies Inc. now owns 932,303 shares of the technology company’s stock valued at $17,154,000 after buying an additional 291,869 shares during the last quarter. Vanguard Group Inc. raised its stake in Cray by 8.7% in the first quarter. Vanguard Group Inc. now owns 3,501,431 shares of the technology company’s stock valued at $76,682,000 after buying an additional 279,435 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY raised its stake in Cray by 34.1% in the first quarter. Paradigm Capital Management Inc. NY now owns 1,011,700 shares of the technology company’s stock valued at $22,156,000 after buying an additional 257,400 shares during the last quarter. 96.24% of the stock is currently owned by hedge funds and other institutional investors.

About Cray

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.

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