Cray Inc. (NASDAQ:CRAY) saw strong trading volume on Thursday . 878,436 shares traded hands during mid-day trading, an increase of 163% from the previous session’s volume of 333,706 shares.The stock last traded at $29.81 and had previously closed at $29.61.

Several research analysts have commented on the company. BidaskClub lowered Cray from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Zacks Investment Research lowered Cray from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Craig Hallum reissued a “buy” rating and issued a $36.00 price objective (up from $31.00) on shares of Cray in a research report on Wednesday, May 8th. ValuEngine raised Cray from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 19th. Finally, TheStreet raised Cray from a “d+” rating to a “c-” rating in a research report on Thursday, March 14th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $33.00.

The stock has a market capitalization of $1.23 billion, a PE ratio of -20.99 and a beta of 1.34. The company has a quick ratio of 2.62, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

Cray (NASDAQ:CRAY) last announced its earnings results on Tuesday, May 7th. The technology company reported ($0.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.09). Cray had a negative return on equity of 17.89% and a negative net margin of 16.99%. The business had revenue of $71.55 million for the quarter, compared to analysts’ expectations of $70.67 million. During the same period in the previous year, the firm posted ($0.53) earnings per share. The firm’s revenue was down 10.1% compared to the same quarter last year. Analysts predict that Cray Inc. will post -1.77 EPS for the current fiscal year.

In other news, CEO Peter J. Ungaro sold 63,029 shares of Cray stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $22.39, for a total transaction of $1,411,219.31. Following the sale, the chief executive officer now directly owns 337,532 shares of the company’s stock, valued at $7,557,341.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael Charles Piraino sold 25,000 shares of Cray stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $22.20, for a total value of $555,000.00. Following the sale, the senior vice president now directly owns 63,230 shares in the company, valued at $1,403,706. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 211,000 shares of company stock worth $4,975,554. Corporate insiders own 4.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Cray by 83.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,240 shares of the technology company’s stock worth $70,000 after purchasing an additional 1,478 shares in the last quarter. Quantamental Technologies LLC grew its stake in Cray by 1,027.8% in the first quarter. Quantamental Technologies LLC now owns 3,767 shares of the technology company’s stock worth $98,000 after purchasing an additional 3,433 shares in the last quarter. Neuburgh Advisers LLC grew its stake in Cray by 32.9% in the fourth quarter. Neuburgh Advisers LLC now owns 4,848 shares of the technology company’s stock worth $105,000 after purchasing an additional 1,200 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Cray in the first quarter worth about $105,000. Finally, Actinver Wealth Management Inc. acquired a new position in Cray in the fourth quarter worth about $206,000. 99.08% of the stock is currently owned by institutional investors and hedge funds.

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Cray Company Profile (NASDAQ:CRAY)

Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing products for high-performance computing, data analytics, and AI markets. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.

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