Paradigm Capital Management Incny Lowers stake in Cray (CRAY)

Cray (CRAY) : Paradigm Capital Management Incny reduced its stake in Cray by 20.28% during the most recent quarter end. The investment management company now holds a total of 764,900 shares of Cray which is valued at $23.9 Million after selling 194,600 shares in Cray , the firm said in a disclosure report filed with the SEC on May 12, 2016.Cray makes up approximately 3.11% of Paradigm Capital Management Incny’s portfolio.

Other Hedge Funds, Including , Thrivent Financial For Lutherans added CRAY to its portfolio by purchasing 18,660 company shares during the most recent quarter which is valued at $583,685.First Interstate Bank reduced its stake in CRAY by selling 135 shares or 27.05% in the most recent quarter. The Hedge Fund company now holds 364 shares of CRAY which is valued at $11,386. Cipher Capital Lp added CRAY to its portfolio by purchasing 14,305 company shares during the most recent quarter which is valued at $447,460. Cray makes up approx 0.04% of Cipher Capital Lp’s portfolio.Norges Bank boosted its stake in CRAY in the latest quarter, The investment management firm added 226,938 additional shares and now holds a total of 521,754 shares of Cray which is valued at $16.3 Million. Cray makes up approx 0.01% of Norges Bank’s portfolio. Quantitative Investment Management added CRAY to its portfolio by purchasing 19,400 company shares during the most recent quarter which is valued at $630,694. Cray makes up approx 0.03% of Quantitative Investment Management’s portfolio.

Cray opened for trading at $31.3 and hit $32.1 on the upside on Friday, eventually ending the session at $31.58, with a gain of 1.71% or 0.53 points. The heightened volatility saw the trading volume jump to 2,71,787 shares. Company has a market cap of $1,287,232 M.

On the company’s financial health, Cray reported $-0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.25. The company had revenue of $105.50 million for the quarter, compared to analysts expectations of $100.80 million. The company’s revenue was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.28 EPS.

Many Wall Street Analysts have commented on Cray. Cray was Downgraded by Needham to ” Hold” on May 4, 2016. Cray was Downgraded by Craig Hallum to ” Hold” on May 4, 2016. Sidoti Upgraded Cray on Apr 19, 2016 to ” Buy”, Price Target of the shares are set at $49.

Cray Inc. designs develops manufactures markets and services the high-performance computing (HPC). The Company markets supercomputers and provides storage and analytics solutions. It also provides software system maintenance and support services and engineering services related to supercomputer systems. The Company operates through segments which include Supercomputing Storage and Data Management Maintenance and Support and Engineering Services and Other. It provides three models of customer-focused solutions: integrated supercomputing and storage solutions with tuned software; commodity-based cluster supercomputing and storage solutions and turn-key analytic solutions featuring industry standards and graph technologies. The Company offers its solutions by combining supercomputing cluster storage and analytics technology. Its customers include domestic and foreign Government and Government-funded entities academic institutions and commercial entities.

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