MainStreet Investment Advisors LLC reduced its stake in shares of Cray Inc. (NASDAQ:CRAY) by 30.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,000 shares of the technology company’s stock after selling 3,000 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Cray were worth $244,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Quantamental Technologies LLC increased its position in Cray by 1,027.8% during the 1st quarter. Quantamental Technologies LLC now owns 3,767 shares of the technology company’s stock valued at $98,000 after buying an additional 3,433 shares in the last quarter. Actinver Wealth Management Inc. acquired a new position in shares of Cray in the fourth quarter valued at about $206,000. Gotham Asset Management LLC acquired a new position in shares of Cray in the fourth quarter valued at about $224,000. Municipal Employees Retirement System of Michigan acquired a new position in shares of Cray in the fourth quarter valued at about $255,000. Finally, Piedmont Investment Advisors Inc. increased its holdings in shares of Cray by 5.4% in the first quarter. Piedmont Investment Advisors Inc. now owns 10,239 shares of the technology company’s stock valued at $267,000 after purchasing an additional 529 shares during the period. Hedge funds and other institutional investors own 96.70% of the company’s stock.
A number of research analysts have recently weighed in on CRAY shares. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Craig Hallum lowered Cray from a “buy” rating to a “hold” rating in a report on Friday, May 17th. ValuEngine lowered Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Wells Fargo & Co set a $9.00 price objective on Bausch Health Companies and gave the company a “sell” rating in a report on Friday, May 17th. Finally, BidaskClub lowered Weyco Group from a “sell” rating to a “strong sell” rating in a report on Saturday, July 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $33.00.
Cray stock opened at $34.66 on Tuesday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -24.41 and a beta of 0.85. Cray Inc. has a 52 week low of $18.76 and a 52 week high of $36.64. The business’s 50-day moving average is $34.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.62 and a current ratio of 3.33.
Cray (NASDAQ:CRAY) last posted its earnings results on Tuesday, May 7th. The technology company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.09). The company had revenue of $71.55 million for the quarter, compared to analyst estimates of $70.67 million. Cray had a negative return on equity of 17.89% and a negative net margin of 16.99%. The firm’s revenue was down 10.1% on a year-over-year basis. During the same period last year, the business earned ($0.53) earnings per share. On average, sell-side analysts anticipate that Cray Inc. will post -1.77 earnings per share for the current fiscal year.
In other Cray news, VP Brian C. Henry sold 52,409 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $31.66, for a total transaction of $1,659,268.94. Following the transaction, the vice president now owns 31,475 shares in the company, valued at $996,498.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian C. Henry sold 36,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $28.97, for a total value of $1,042,920.00. Following the transaction, the vice president now owns 106,546 shares in the company, valued at approximately $3,086,637.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,000 shares of company stock worth $2,809,919. 4.00% of the stock is owned by corporate insiders.
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.
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