Cray Inc. (NASDAQ:CRAY) was upgraded by analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $25.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 25.94% from the company’s previous close.
Several other research firms have also commented on CRAY. KeyCorp lowered their price objective on shares of Cray from $41.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, August 3rd. Zacks Investment Research raised shares of Cray from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th. Stifel Nicolaus lowered their price objective on shares of Cray from $49.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Finally, Pacific Crest started coverage on shares of Cray in a research note on Thursday, July 28th. They issued an “overweight” rating and a $41.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $35.57.
Cray (NASDAQ:CRAY) traded up 2.06% during mid-day trading on Tuesday, reaching $19.85. 158,781 shares of the company’s stock traded hands. The stock’s market capitalization is $793.36 million. The stock’s 50 day moving average is $20.58 and its 200-day moving average is $25.95. Cray has a 52 week low of $16.77 and a 52 week high of $43.79.
Cray (NASDAQ:CRAY) last posted its quarterly earnings data on Monday, November 7th. The company reported ($0.49) EPS for the quarter, missing the Thomson Reuters’ 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 business earned $77.50 million during the quarter, compared to analysts’ expectations of $79.53 million. During the same period in the previous year, the business posted $0.48 EPS. The company’s revenue for the quarter was down 59.5% compared to the same quarter last year. On average, equities analysts anticipate that Cray will post $0.37 EPS for the current year.
In related news, SVP Charles A. Morreale sold 6,455 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $19.50, for a total value of $125,872.50. Following the sale, the senior vice president now owns 89,565 shares of the company’s stock, valued at $1,746,517.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of CRAY. BlackRock Inc. boosted its stake in shares of Cray by 11.4% in the third quarter. BlackRock Inc. now owns 4,386 shares of the company’s stock valued at $103,000 after buying an additional 450 shares during the period. Acrospire Investment Management LLC boosted its stake in shares of Cray by 457.1% in the second quarter. Acrospire Investment Management LLC now owns 3,900 shares of the company’s stock valued at $117,000 after buying an additional 3,200 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Cray by 3,382.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,666 shares of the company’s stock valued at $140,000 after buying an additional 4,532 shares during the period. Invictus RG purchased a new stake in shares of Cray during the first quarter valued at $150,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Cray during the third quarter valued at $152,000. 88.96% of the stock is currently owned by hedge funds and other institutional investors.