Equities analysts expect Cray Inc. (NASDAQ:CRAY) to announce sales of $158.10 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Cray’s earnings, with the highest sales estimate coming in at $158.20 million and the lowest estimate coming in at $158.00 million. Cray reported sales of $166.64 million during the same quarter last year, which suggests a negative year over year growth rate of 5.1%. The company is expected to issue its next earnings results after the market closes on Thursday, February 21st.
According to Zacks, analysts expect that Cray will report full-year sales of $450.70 million for the current financial year, with estimates ranging from $450.60 million to $450.80 million. For the next financial year, analysts anticipate that the business will post sales of $471.90 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Cray.
Several equities research analysts have issued reports on CRAY shares. BidaskClub raised shares of Cray from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 18th. ValuEngine raised shares of Cray from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 1st. Finally, Zacks Investment Research cut shares of Cray from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Cray presently has an average rating of “Buy” and an average target price of $32.50.
Cray stock traded down $0.11 during trading hours on Monday, hitting $22.01. The company had a trading volume of 146,307 shares, compared to its average volume of 214,796. The stock has a market cap of $894.80 million, a price-to-earnings ratio of -21.79 and a beta of 1.40. Cray has a 1 year low of $18.76 and a 1 year high of $28.60.
In other news, VP Brian C. Henry sold 18,667 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $24.19, for a total value of $451,554.73. Following the completion of the sale, the vice president now owns 87,939 shares of the company’s stock, valued at approximately $2,127,244.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael Charles Piraino sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $25.09, for a total transaction of $501,800.00. Following the completion of the sale, the senior vice president now directly owns 68,230 shares of the company’s stock, valued at approximately $1,711,890.70. The disclosure for this sale can be found here. Insiders sold a total of 69,185 shares of company stock valued at $1,748,654 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Cray by 83.9% in the 4th 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 during the period. Contravisory Investment Management Inc. bought a new position in shares of Cray during the 3rd quarter worth approximately $114,000. Bank of Montreal Can raised its stake in shares of Cray by 1,179.7% during the 3rd quarter. Bank of Montreal Can now owns 6,232 shares of the technology company’s stock worth $134,000 after acquiring an additional 5,745 shares in the last quarter. Supplemental Annuity Collective Trust of NJ bought a new position in shares of Cray during the 3rd quarter worth approximately $215,000. Finally, Xact Kapitalforvaltning AB bought a new position in shares of Cray during the 3rd quarter worth approximately $217,000. 97.34% of the stock is owned by hedge funds and other institutional investors.
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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