Cray Inc. (NASDAQ:CRAY)‘s stock had its “buy” rating reiterated by equities research analysts at Stifel Nicolaus in a research note issued to investors on Monday. They currently have a $30.00 target price on the stock, down from their previous target price of $40.00. Stifel Nicolaus’ price target would indicate a potential upside of 51.13% from the company’s previous close.
Other equities analysts also recently issued reports about the company. KeyCorp reduced their price objective on Cray from $41.00 to $35.00 and set an “overweight” rating for the company in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded Cray from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. Finally, Pacific Crest began coverage on Cray in a research report on Thursday, July 28th. They set an “overweight” rating and a $41.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $35.57.
Cray (NASDAQ:CRAY) traded up 2.06% during trading on Monday, reaching $19.85. The company’s stock had a trading volume of 158,781 shares. The firm’s market capitalization is $793.36 million. Cray has a 52 week low of $16.77 and a 52 week high of $43.79. The firm has a 50-day moving average price of $20.58 and a 200-day moving average price of $25.95.
Cray (NASDAQ:CRAY) last issued its earnings results on Monday, November 7th. The company reported ($0.49) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.34) by $0.15. Cray had a negative net margin of 3.79% and a negative return on equity of 2.19%. The company earned $77.50 million during the quarter, compared to analyst estimates of $79.53 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The business’s revenue was down 59.5% on a year-over-year basis. On average, equities analysts anticipate that Cray will post $0.37 EPS for the current fiscal year.
In other Cray news, SVP Charles A. Morreale sold 6,455 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $19.50, for a total value of $125,872.50. Following the completion of the sale, the senior vice president now directly owns 89,565 shares in the company, valued at $1,746,517.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.00% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. Credit Suisse AG boosted its position in Cray by 13.6% in the third quarter. Credit Suisse AG now owns 43,271 shares of the company’s stock valued at $1,019,000 after buying an additional 5,184 shares in the last quarter. Verition Fund Management LLC bought a new position in Cray during the third quarter valued at about $261,000. Panagora Asset Management Inc. boosted its position in Cray by 133.3% in the third quarter. Panagora Asset Management Inc. now owns 142,411 shares of the company’s stock valued at $3,352,000 after buying an additional 81,378 shares in the last quarter. Capital Research Global Investors boosted its position in Cray by 7.3% in the third quarter. Capital Research Global Investors now owns 4,272,068 shares of the company’s stock valued at $100,564,000 after buying an additional 289,081 shares in the last quarter. Finally, Clinton Group Inc. boosted its position in Cray by 8.9% in the third quarter. Clinton Group Inc. now owns 40,268 shares of the company’s stock valued at $948,000 after buying an additional 3,288 shares in the last quarter. Hedge funds and other institutional investors own 88.96% of the company’s stock.
Cray Company Profile