Cray (CRAY) is Initiated by Pacific Crest to Overweight, Price Target at $41

Cray (CRAY) was Initiated by Pacific Crest to “Overweight” and the brokerage firm has set the Price Target at $41. Pacific Crest advised their investors in a research report released on Jul 28, 2016.

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.

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.

Cray opened for trading at $31.6 and hit $31.99 on the upside on Thursday, eventually ending the session at $31.82, with a gain of 3.85% or 1.18 points. The heightened volatility saw the trading volume jump to 6,07,222 shares. Company has a market cap of $1,297 M.

In a different news, on May 9, 2016, Stephen C Kiely (director) sold 2,102 shares at $31.00 per share price. According to the SEC, on Feb 24, 2016, Charles Daniel Fairchild (VP, Corp. Controller & CAO) sold 16,545 shares at $40.85 per share price. On Feb 22, 2016, Sally G Narodick (director) sold 15,000 shares at $41.25 per share price, according to the Form-4 filing with the securities and exchange commission.

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.


Leave a Reply

Cray - Is it time to Sell?

Top Brokerage Firms are advising their investors on Cray. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.