Cray (CRAY) Stock Rating Upgraded by BidaskClub

Cray (NASDAQ:CRAY) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Thursday.

A number of other research analysts have also recently commented on CRAY. ValuEngine cut shares of Cray from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 30th. Zacks Investment Research cut shares of Cray from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $31.00.

Shares of CRAY opened at $19.98 on Thursday. The company has a market capitalization of $838.17 million, a P/E ratio of -19.89 and a beta of 1.52. Cray has a 1-year low of $17.90 and a 1-year high of $28.60.

Cray (NASDAQ:CRAY) last announced its earnings results on Tuesday, July 31st. The technology company reported ($0.20) earnings per share for the quarter, beating 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 business had revenue of $120.20 million for the quarter, compared to the consensus estimate of $108.68 million. During the same period last year, the firm posted ($0.20) earnings per share. Cray’s quarterly revenue was up 38.0% on a year-over-year basis. As a group, equities analysts anticipate that Cray will post -1.02 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of CRAY. BlackRock Inc. grew its position in Cray by 5.7% during the second quarter. BlackRock Inc. now owns 5,520,714 shares of the technology company’s stock valued at $135,810,000 after acquiring an additional 295,955 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Cray by 867.9% in the first quarter. The Manufacturers Life Insurance Company now owns 299,695 shares of the technology company’s stock worth $6,204,000 after purchasing an additional 268,732 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Cray by 27.3% in the second quarter. Royce & Associates LP now owns 1,176,481 shares of the technology company’s stock worth $28,941,000 after purchasing an additional 252,410 shares during the last quarter. Senvest Management LLC grew its holdings in shares of Cray by 31.4% in the second quarter. Senvest Management LLC now owns 727,971 shares of the technology company’s stock worth $17,908,000 after purchasing an additional 174,129 shares during the last quarter. Finally, Cortina Asset Management LLC grew its holdings in shares of Cray by 24.6% in the second quarter. Cortina Asset Management LLC now owns 831,584 shares of the technology company’s stock worth $20,457,000 after purchasing an additional 163,939 shares during the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

About Cray

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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