BidaskClub downgraded shares of Cray (NASDAQ:CRAY) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

A number of other brokerages have also weighed in on CRAY. TheStreet lowered shares of Cray from a c- rating to a d rating in a report on Friday, August 2nd. Craig Hallum lowered shares of Cray from a buy rating to a hold rating in a report on Friday, May 17th. Zacks Investment Research lowered shares of Cray from a hold rating to a sell rating in a report on Friday, August 9th. Wells Fargo & Co lowered shares of Cray from an outperform rating to a market perform rating in a report on Friday, May 17th. Finally, ValuEngine upgraded shares of Cray from a buy rating to a strong-buy rating in a report on Saturday, May 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Cray currently has an average rating of Hold and a consensus price target of $33.00.

Shares of Cray stock traded up $0.01 during trading on Tuesday, hitting $34.96. The stock had a trading volume of 7,428 shares, compared to its average volume of 471,418. The firm’s fifty day simple moving average is $34.77 and its 200-day simple moving average is $31.30. The stock has a market cap of $1.45 billion, a PE ratio of -24.62 and a beta of 0.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.14. Cray has a 12 month low of $18.76 and a 12 month high of $36.64.

Cray (NASDAQ:CRAY) last announced its quarterly earnings data on Friday, August 2nd. The technology company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.12). Cray had a negative net margin of 27.17% and a negative return on equity of 26.31%. The company had revenue of $68.70 million for the quarter, compared to the consensus estimate of $72.15 million. Analysts expect that Cray will post -2.29 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of CRAY. Alpine Associates Management Inc. purchased a new position in Cray during the 2nd quarter valued at about $36,115,000. TIG Advisors LLC purchased a new position in Cray during the 2nd quarter valued at about $24,510,000. UBS Group AG increased its position in Cray by 1,531.3% during the 2nd quarter. UBS Group AG now owns 620,326 shares of the technology company’s stock valued at $21,600,000 after purchasing an additional 582,299 shares during the period. Water Island Capital LLC purchased a new position in Cray during the 2nd quarter valued at about $19,177,000. Finally, JPMorgan Chase & Co. increased its position in Cray by 3,413.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 536,697 shares of the technology company’s stock valued at $18,656,000 after purchasing an additional 521,420 shares during the period. 93.28% of the stock is currently owned by institutional investors and hedge funds.

About Cray

Cray Inc, together with its subsidiaries, designs, develops, manufactures, markets, and services computing products for high-performance computing, data analytics, and AI markets. It operates through Supercomputing, Storage and Data Management, Maintenance and Support, and Engineering Services and Other segments.

See Also: Exchange-Traded Funds (ETFs)

Receive News & Ratings for Cray Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cray and related companies with MarketBeat.com's FREE daily email newsletter.