State of Tennessee Treasury Department Raises Stake in Cray Inc (CRAY)
State of Tennessee Treasury Department raised its stake in Cray Inc (NASDAQ:CRAY) by 17.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,205 shares of the technology company’s stock after buying an additional 5,766 shares during the period. State of Tennessee Treasury Department owned approximately 0.10% of Cray worth $837,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. UBS Asset Management Americas Inc. acquired a new position in Cray during the first quarter valued at $287,000. US Bancorp DE increased its position in Cray by 5.6% in the first quarter. US Bancorp DE now owns 13,166 shares of the technology company’s stock valued at $289,000 after buying an additional 700 shares during the last quarter. TFS Capital LLC acquired a new position in Cray during the first quarter valued at $316,000. Louisiana State Employees Retirement System increased its position in Cray by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the technology company’s stock valued at $364,000 after buying an additional 200 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new position in Cray during the fourth quarter valued at $382,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.
Shares of Cray Inc (NASDAQ CRAY) opened at 18.30 on Friday. Cray Inc has a 1-year low of $16.10 and a 1-year high of $32.30. The company’s market cap is $732.20 million. The stock has a 50 day moving average of $18.02 and a 200 day moving average of $19.32.
Cray (NASDAQ:CRAY) last posted its quarterly earnings results on Tuesday, May 2nd. The technology company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by $0.21. The company had revenue of $59.03 million during the quarter, compared to analysts’ expectations of $56.60 million. Cray had a negative return on equity of 2.02% and a negative net margin of 0.61%. On average, equities analysts forecast that Cray Inc will post ($1.09) EPS for the current year.
Several research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Cray from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. TheStreet downgraded shares of Cray from a “c” rating to a “d+” rating in a report on Wednesday, May 3rd. ValuEngine upgraded shares of Cray from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price (down previously from $25.00) on shares of Cray in a research note on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $32.25.
In other news, Director Stephen C. Kiely sold 2,000 shares of Cray stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $18.55, for a total value of $37,100.00. Following the completion of the transaction, the director now owns 20,675 shares of the company’s stock, valued at approximately $383,521.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.00% of the stock is owned by insiders.
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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