Cray (CRAY) Rating Increased to Strong-Buy at ValuEngine

Cray (NASDAQ:CRAY) was upgraded by research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday.

Other research analysts have also issued research reports about the company. BidaskClub lowered Cray from a “sell” rating to a “strong sell” rating in a report on Thursday, August 23rd. Zacks Investment Research lowered Cray from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $31.00.

Shares of CRAY stock opened at $24.33 on Thursday. Cray has a fifty-two week low of $18.10 and a fifty-two week high of $28.60.

Cray (NASDAQ:CRAY) last posted its quarterly earnings results on Tuesday, October 30th. The technology company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.03). Cray had a negative return on equity of 10.56% and a negative net margin of 33.95%. The company had revenue of $92.80 million for the quarter, compared to analysts’ expectations of $90.58 million. During the same quarter in the prior year, the firm earned ($0.33) EPS. The firm’s revenue was up 16.4% on a year-over-year basis. Equities analysts predict that Cray will post -1.55 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. raised its holdings in shares of Cray by 24.5% during the 3rd quarter. American Century Companies Inc. now owns 820,640 shares of the technology company’s stock worth $17,644,000 after acquiring an additional 161,464 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Cray by 27.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,364,591 shares of the technology company’s stock worth $29,339,000 after acquiring an additional 291,591 shares during the period. Xact Kapitalforvaltning AB purchased a new position in shares of Cray during the 3rd quarter worth $217,000. Eidelman Virant Capital purchased a new position in shares of Cray during the 3rd quarter worth $860,000. Finally, NJ State Employees Deferred Compensation Plan raised its holdings in shares of Cray by 33.3% during the 3rd quarter. NJ State Employees Deferred Compensation Plan now owns 32,000 shares of the technology company’s stock worth $688,000 after acquiring an additional 8,000 shares during the period. Institutional investors and hedge funds own 97.61% of the company’s stock.

Cray Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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