BidaskClub Downgrades Cray Inc (CRAY) to Strong Sell

BidaskClub cut shares of Cray Inc (NASDAQ:CRAY) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday, July 25th.

Other equities analysts have also issued research reports about the stock. Needham & Company LLC reiterated a buy rating and issued a $23.00 target price (down previously from $25.00) on shares of Cray in a research report on Wednesday, May 3rd. TheStreet lowered shares of Cray from a c rating to a d+ rating in a research report on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Cray from a sell rating to a hold rating in a research report on Tuesday, July 4th. Finally, ValuEngine upgraded shares of Cray from a strong sell rating to a sell rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Cray has a consensus rating of Hold and a consensus price target of $26.50.

Shares of Cray (NASDAQ:CRAY) traded down 0.25% during mid-day trading on Tuesday, hitting $19.80. 278,824 shares of the stock traded hands. The firm’s 50 day moving average price is $18.89 and its 200-day moving average price is $19.06. Cray has a 12-month low of $16.10 and a 12-month high of $25.32. The stock has a market cap of $795.11 million, a P/E ratio of 295.52 and a beta of 1.62.

Cray (NASDAQ:CRAY) last released its quarterly earnings data on Thursday, July 27th. The technology company reported ($0.20) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $0.34. The business had revenue of $87.10 million for the quarter, compared to analysts’ expectations of $60.18 million. Cray had a net margin of 0.47% and a negative return on equity of 1.03%. The company’s revenue for the quarter was down 13.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.29) EPS. Analysts predict that Cray will post ($1.18) earnings per share for the current year.

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Several institutional investors have recently bought and sold shares of the stock. First Interstate Bank raised its position in Cray by 17.7% in the first quarter. First Interstate Bank now owns 6,065 shares of the technology company’s stock valued at $133,000 after buying an additional 910 shares during the period. State of Alaska Department of Revenue raised its position in Cray by 77.3% in the second quarter. State of Alaska Department of Revenue now owns 7,979 shares of the technology company’s stock valued at $146,000 after buying an additional 3,479 shares during the period. Municipal Employees Retirement System of Michigan raised its position in Cray by 3.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 9,620 shares of the technology company’s stock valued at $177,000 after buying an additional 330 shares during the period. Alambic Investment Management L.P. acquired a new position in Cray during the first quarter valued at $208,000. Finally, Mason Street Advisors LLC raised its position in Cray by 7.0% in the first quarter. Mason Street Advisors LLC now owns 9,525 shares of the technology company’s stock valued at $209,000 after buying an additional 621 shares during the period. Institutional investors own 94.80% of the company’s stock.

About Cray

Cray Inc is engaged in designing, developing, manufacturing, marketing and servicing the high performance computing (HPC) market, primarily categories of systems known as supercomputers. The Company’s segments include Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other.

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