BlackRock Inc. trimmed its stake in Cray Inc. (NASDAQ:CRAY) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,161,521 shares of the technology company’s stock after selling 25,839 shares during the period. BlackRock Inc. owned approximately 0.13% of Cray worth $124,907,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Cray in the third quarter worth approximately $124,000. Teacher Retirement System of Texas bought a new position in shares of Cray in the fourth quarter worth approximately $331,000. Levin Capital Strategies L.P. increased its position in shares of Cray by 31.1% in the fourth quarter. Levin Capital Strategies L.P. now owns 15,082 shares of the technology company’s stock worth $365,000 after purchasing an additional 3,580 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Cray by 57.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 15,120 shares of the technology company’s stock worth $294,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Cray in the third quarter worth approximately $375,000. Institutional investors own 97.10% of the company’s stock.
Several research analysts recently weighed in on the stock. Craig Hallum set a $30.00 price objective on shares of Cray and gave the stock a “buy” rating in a research report on Tuesday, March 6th. TheStreet cut shares of Cray from a “c-” rating to a “d” rating in a research report on Friday, March 2nd. BidaskClub cut shares of Cray from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. KeyCorp reiterated a “buy” rating and set a $31.00 price target on shares of Cray in a research report on Friday, January 19th. Finally, Zacks Investment Research upgraded shares of Cray from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $27.33.
Cray stock opened at $20.90 on Friday. Cray Inc. has a 52-week low of $16.50 and a 52-week high of $26.65. The company has a market cap of $858.08, a P/E ratio of -6.30 and a beta of 1.57.
Cray (NASDAQ:CRAY) last issued its quarterly earnings results on Thursday, February 15th. The technology company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. Cray had a negative net margin of 34.10% and a negative return on equity of 8.51%. The business had revenue of $166.60 million for the quarter, compared to analysts’ expectations of $164.03 million. During the same period last year, the business earned $1.38 earnings per share. The business’s quarterly revenue was down 51.9% on a year-over-year basis. equities analysts expect that Cray Inc. will post -0.82 EPS for the current fiscal year.
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Cray Company Profile
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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