According to Zacks, “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. The Supercomputing segment includes a suite of supercomputer systems, which are used by engineering centers in universities, government laboratories, and commercial institutions. The Storage and Data Management segment includes Cray Data Warp and Sonexion, as well as other third-party storage products and their ongoing maintenance and system analysts. The Maintenance and Support segment provides ongoing maintenance of Cray supercomputers, big data storage and analytics systems, as well as system analysts. The Engineering Services and Other segment include the Company’s analytics business and Custom Engineering. “
Several other equities research analysts have also recently commented on CRAY. Wells Fargo & Co set a $9.00 target price on Bausch Health Companies and gave the stock a sell rating in a report on Friday, May 17th. TheStreet upgraded shares of ExOne from a d rating to a c rating in a research report on Thursday, March 14th. BidaskClub upgraded shares of Misonix from a buy rating to a strong-buy rating in a report on Wednesday, July 3rd. Craig Hallum cut shares of Cray from a buy rating to a hold rating in a report on Friday, May 17th. Finally, ValuEngine cut shares of Zymeworks from a buy rating to a hold rating in a report on Saturday, May 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $33.00.
Cray (NASDAQ:CRAY) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.09). The company had revenue of $71.55 million during the quarter, compared to analysts’ expectations of $70.67 million. Cray had a negative net margin of 16.99% and a negative return on equity of 17.89%. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same period last year, the business earned ($0.53) earnings per share. As a group, equities analysts anticipate that Cray will post -1.77 EPS for the current year.
In other Cray news, VP Brian C. Henry sold 52,409 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $31.66, for a total transaction of $1,659,268.94. Following the sale, the vice president now directly owns 31,475 shares of the company’s stock, valued at $996,498.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian C. Henry sold 3,591 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $30.00, for a total transaction of $107,730.00. Following the sale, the chief financial officer now directly owns 66,955 shares in the company, valued at $2,008,650. The disclosure for this sale can be found here. Insiders sold 92,000 shares of company stock valued at $2,809,919 over the last quarter. 4.00% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Cray by 4.0% in the 4th quarter. BlackRock Inc. now owns 6,035,363 shares of the technology company’s stock worth $130,304,000 after purchasing an additional 234,903 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Cray by 5.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,437,625 shares of the technology company’s stock valued at $31,038,000 after purchasing an additional 79,637 shares during the last quarter. Turiya Advisors Asia Ltd grew its holdings in Cray by 30.2% during the 1st quarter. Turiya Advisors Asia Ltd now owns 916,359 shares of the technology company’s stock worth $23,871,000 after acquiring an additional 212,309 shares during the last quarter. Granite Investment Partners LLC grew its holdings in Cray by 14.9% during the 1st quarter. Granite Investment Partners LLC now owns 750,610 shares of the technology company’s stock worth $19,553,000 after acquiring an additional 97,108 shares during the last quarter. Finally, Emerald Advisers LLC grew its holdings in Cray by 17.4% during the 1st quarter. Emerald Advisers LLC now owns 695,563 shares of the technology company’s stock worth $18,119,000 after acquiring an additional 103,070 shares during the last quarter. Institutional investors and hedge funds own 97.34% of the company’s stock.
Cray Company Profile
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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