KeyBanc Maintains Cray to Overweight with Price Target $35.00

Brokerage firm KeyBanc Maintains its rating on Cray(NASDAQ:CRAY). In a research note issued to the investors, the brokerage major Lowers the price-target to $35.00 per share. The shares have been rated Overweight. The rating by KeyBanc was issued on Aug 3, 2016.

In a different note, On Aug 3, 2016, Stifel Nicolaus said it Maintains its rating on Cray. In the research note, the firm Lowers the price-target to $49.00 per share. The shares have been rated ‘Buy’ by the firm. Pacific Crest said it Initiates Coverage on Cray, according to a research note issued on Jul 28, 2016. The shares have been rated ‘Overweight’ by the firm.

Cray (CRAY) made into the market gainers list on Fridays trading session with the shares advancing 3.89% or 0.83 points. Due to strong positive momentum, the stock ended at $22.16, which is also near the day’s high of $22.72. The stock began the session at $21.55 and the volume stood at 12,77,371 shares. The 52-week high of the shares is $43.79 and the 52 week low is $18. The company has a current market capitalization of $903 M and it has 4,07,27,275 shares in outstanding.

Cray(CRAY) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $100.23M. Analysts had an estimated revenue of $101.70M. Earnings per share were $-0.29. Analysts had estimated an EPS of $-0.23.

Several Insider Transactions has been reported to the SEC. On May 9, 2016, Stephen C Kiely (director) sold 2,102 shares at $31.00 per share price.Also, 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.

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