Cray (NASDAQ:CRAY) Rating Lowered to Hold at BidaskClub

BidaskClub cut shares of Cray (NASDAQ:CRAY) from a buy rating to a hold rating in a research report report published on Tuesday morning, BidAskClub reports.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Cray from a hold rating to a sell rating in a research report on Friday, May 10th. ValuEngine upgraded Cray from a buy rating to a strong-buy rating in a research report on Saturday, May 18th. Wells Fargo & Co cut Cray from an outperform rating to a market perform rating in a research report on Friday, May 17th. KeyCorp dropped their target price on Cray from $33.00 to $30.00 and set an overweight rating on the stock in a research report on Wednesday, February 13th. Finally, TheStreet raised shares of Cray from a d+ rating to a c- rating in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $33.00.

NASDAQ:CRAY opened at $34.69 on Tuesday. Cray has a 52 week low of $18.76 and a 52 week high of $36.64. 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 $1.42 billion, a PE ratio of -24.43 and a beta of 0.90.

Cray (NASDAQ:CRAY) last posted its earnings results 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). Cray had a negative net margin of 16.99% and a negative return on equity of 17.89%. The business had revenue of $71.55 million for the quarter, compared to analyst estimates of $70.67 million. During the same quarter last year, the business earned ($0.53) earnings per share. Cray’s revenue was down 10.1% on a year-over-year basis. As a group, analysts expect that Cray will post -1.77 EPS for the current fiscal year.

In related news, VP Brian C. Henry sold 52,409 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $31.66, for a total value of $1,659,268.94. Following the transaction, the vice president now directly owns 31,475 shares of the company’s stock, valued at approximately $996,498.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 transaction of $1,042,920.00. Following the completion of the transaction, the vice president now directly owns 106,546 shares in the company, valued at $3,086,637.62. The disclosure for this sale can be found here. Insiders sold a total of 92,000 shares of company stock worth $2,809,919 over the last ninety days. 4.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Actinver Wealth Management Inc. purchased a new position in Cray in the 4th quarter valued at about $206,000. Legal & General Group Plc lifted its stake in Cray by 4.4% in the 4th quarter. Legal & General Group Plc now owns 97,847 shares of the technology company’s stock worth $2,101,000 after purchasing an additional 4,139 shares in the last quarter. PEAK6 Investments LLC lifted its stake in Cray by 46.0% in the 4th quarter. PEAK6 Investments LLC now owns 16,735 shares of the technology company’s stock worth $361,000 after purchasing an additional 5,270 shares in the last quarter. Arizona State Retirement System lifted its stake in Cray by 6.2% in the 4th quarter. Arizona State Retirement System now owns 62,889 shares of the technology company’s stock worth $1,358,000 after purchasing an additional 3,664 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Cray by 214.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 281,507 shares of the technology company’s stock worth $7,333,000 after purchasing an additional 191,851 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

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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