State of New Jersey Common Pension Fund D grew its position in Cray Inc. (NASDAQ:CRAY) by 11.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,560,000 shares of the technology company’s stock after buying an additional 160,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Cray were worth $33,540,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of CRAY. Contravisory Investment Management Inc. purchased a new position in Cray in the third quarter worth about $114,000. Bank of Montreal Can raised its holdings in Cray by 1,179.7% in the third quarter. Bank of Montreal Can now owns 6,232 shares of the technology company’s stock worth $134,000 after buying an additional 5,745 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Cray in the second quarter worth about $202,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Cray in the second quarter worth about $212,000. Finally, Supplemental Annuity Collective Trust of NJ purchased a new position in Cray in the third quarter worth about $215,000. 96.99% of the stock is owned by institutional investors and hedge funds.
Several research analysts have issued reports on CRAY shares. ValuEngine cut shares of Cray from a “strong-buy” rating to a “buy” rating in a report on Monday, July 30th. BidaskClub upgraded shares of Cray from a “strong sell” rating to a “sell” rating in a research note on Thursday. Finally, Zacks Investment Research lowered shares of Cray from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $31.00.
Cray (NASDAQ:CRAY) last announced its quarterly earnings results on Tuesday, July 31st. The technology company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.13. Cray had a negative net margin of 32.22% and a negative return on equity of 8.18%. The firm had revenue of $120.20 million during the quarter, compared to analyst estimates of $108.68 million. During the same period in the previous year, the business posted ($0.20) earnings per share. The business’s revenue for the quarter was up 38.0% on a year-over-year basis. On average, research analysts anticipate that Cray Inc. will post -1.02 EPS for the current fiscal year.
Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing systems, and data analytics and artificial intelligence solutions. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.
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